Barclays Cuts IDACORP (NYSE:IDA) Price Target to $162.00

Key Points

• Barclays lowered IDACORP’s price target from $167 to $162 while maintaining an “overweight” rating, implying roughly 13% upside from the stock’s current price.
• IDACORP reported quarterly EPS of $1.79, narrowly beating estimates of $1.78, though revenue of $469.8 million fell short of the $511.9 million consensus forecast.
• Analyst sentiment remains positive, with six Buy ratings and two Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $154.57.

IDACORP (NYSE:IDA - Get Free Report) had its price objective decreased by equities researchers at Barclays from $167.00 to $162.00 in a report released on Monday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the energy company's stock. Barclays's price objective suggests a potential upside of 12.97% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a report on Sunday. BTIG Research reaffirmed a "buy" rating and issued a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Weiss Ratings raised shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $154.57.

IDACORP Stock Up 0.3%

IDA stock opened at $143.40 on Monday. The company's 50 day moving average is $145.64 and its 200 day moving average is $142.55. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP has a 1-year low of $122.30 and a 1-year high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. During the same period in the previous year, the business posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts predict that IDACORP will post 6.39 EPS for the current fiscal year.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the sale, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDACORP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in IDACORP by 9.9% in the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company's stock worth $266,275,000 after acquiring an additional 188,845 shares during the last quarter. State Street Corp raised its stake in shares of IDACORP by 0.6% during the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company's stock valued at $238,939,000 after acquiring an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. boosted its holdings in shares of IDACORP by 6.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company's stock worth $228,797,000 after purchasing an additional 107,131 shares during the period. Jennison Associates LLC boosted its holdings in shares of IDACORP by 0.9% during the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company's stock worth $214,075,000 after purchasing an additional 13,694 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company's stock worth $162,190,000 after purchasing an additional 13,283 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Company Profile

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.

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