IDACORP, Inc. (NYSE:IDA) Receives $136.50 Average Target Price from Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $136.50.

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Mizuho lifted their target price on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Morgan Stanley set a $137.00 price target on shares of IDACORP in a research report on Thursday, November 20th. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th.

IDACORP Trading Down 1.8%

Shares of NYSE:IDA opened at $124.53 on Friday. The company has a 50 day moving average of $131.28 and a 200-day moving average of $124.72. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The firm has a market cap of $6.73 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.71 and a beta of 0.61. IDACORP has a twelve month low of $104.74 and a twelve month high of $138.03.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $524.42 million for the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same quarter in the previous year, the company earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, analysts anticipate that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.8%. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

Institutional Investors Weigh In On IDACORP

Institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the 2nd quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares during the period. Quent Capital LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at $30,000. Ameritas Advisory Services LLC purchased a new position in IDACORP in the 2nd quarter worth about $31,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in IDACORP in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.