Brokerages Set IDACORP, Inc. (NYSE:IDA) Target Price at $149.29

Shares of IDACORP, Inc. (NYSE:IDA) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $154.00.

IDA has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and issued a $152.00 price target on shares of IDACORP in a research note on Wednesday, June 24th. Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company set a $154.00 target price on shares of IDACORP in a research report on Tuesday.

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IDACORP by 79.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. lifted its position in IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after purchasing an additional 10,855 shares during the period. American Century Companies Inc. grew its stake in IDACORP by 12.6% during the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after buying an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. grew its stake in IDACORP by 5.7% during the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after buying an additional 13,297 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDA opened at $145.74 on Friday. The business has a fifty day simple moving average of $144.82 and a 200 day simple moving average of $141.47. The company has a market capitalization of $8.08 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.93 and a beta of 0.48. IDACORP has a 1 year low of $120.52 and a 1 year high of $154.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter last year, the business earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts expect that IDACORP will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is 58.57%.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.