Analysts Set IDACORP, Inc. (NYSE:IDA) PT at $123.57

Shares of IDACORP, Inc. (NYSE:IDA) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $123.2857.

Several equities research analysts recently issued reports on IDA shares. UBS Group reissued a “neutral” rating and set a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Morgan Stanley dropped their price target on IDACORP from $133.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

IDACORP Stock Performance

NYSE:IDA opened at $129.77 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The business has a fifty day simple moving average of $125.25 and a two-hundred day simple moving average of $119.13. IDACORP has a 1 year low of $99.81 and a 1 year high of $129.82. The company has a market capitalization of $7.01 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.67 and a beta of 0.59.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting analysts’ consensus estimates of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The firm had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. During the same period last year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, analysts expect that IDACORP will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 5th. IDACORP’s payout ratio is currently 60.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP during the 2nd quarter worth approximately $28,000. Elite Financial Inc. purchased a new stake in shares of IDACORP in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after buying an additional 230 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of IDACORP in the 2nd quarter worth approximately $31,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of IDACORP in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors 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.