Brokerages Set IDACORP, Inc. (NYSE:IDA) Price Target at $123.29

Shares of IDACORP, Inc. (NYSE:IDA) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $123.2857.

IDA has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on IDACORP from $133.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. UBS Group restated a “neutral” rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

IDACORP Stock Performance

Shares of IDA opened at $135.97 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The stock has a 50 day moving average price of $128.27 and a two-hundred day moving average price of $121.07. The firm has a market capitalization of $7.35 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.90 and a beta of 0.56. IDACORP has a 52 week low of $100.10 and a 52 week high of $137.17.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share 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 for the quarter, compared to the consensus estimate of $478.14 million. During the same quarter in the previous year, the business earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Equities analysts forecast that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is currently 60.56%.

Hedge Funds Weigh In On IDACORP

Several institutional investors have recently bought and sold shares of IDA. Farther Finance Advisors LLC lifted its stake in IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock valued at $49,000 after purchasing an additional 378 shares during the last quarter. GAMMA Investing LLC lifted its stake in IDACORP by 20.8% in the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock valued at $86,000 after purchasing an additional 127 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of IDACORP by 7.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company’s stock worth $765,000 after acquiring an additional 456 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of IDACORP during the first quarter worth $818,000. Finally, CENTRAL TRUST Co lifted its position in shares of IDACORP by 63.7% during the first quarter. CENTRAL TRUST Co now owns 1,362 shares of the energy company’s stock worth $158,000 after acquiring an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

About IDACORP

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.