IDACORP, Inc. (NYSE:IDA) Stock Has Consensus Target Price of $150.00 According to Brokerages

Key Points

• Analysts maintain a moderately bullish outlook on IDACORP: Six of eight analysts rate the stock a buy, while two recommend holding it. The consensus 12-month price target is $150, compared with a recent share price of $140.34.
• IDACORP slightly exceeded quarterly earnings expectations, reporting $1.79 in EPS versus the $1.78 consensus, though revenue of $469.8 million fell short of the $511.87 million estimate.
• The company raised its quarterly dividend to $0.90 per share, or $3.60 annualized, representing a 2.6% yield and a 58.28% payout ratio.

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $150.00.

A number of brokerages have recently weighed in on IDA. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. BTIG Research set a $153.00 price target on IDACORP in a report on Tuesday, October 20th. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Morgan Stanley boosted their price target on IDACORP from $143.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. Finally, Barclays decreased their price objective on IDACORP from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Friday, October 9th.

IDACORP Stock Performance

Shares of IDA stock opened at $140.34 on Tuesday. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.44 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. The company has a 50-day simple moving average of $135.36 and a 200 day simple moving average of $140.39. IDACORP has a 52 week low of $124.12 and a 52 week high of $154.91.

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

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.90 per share. This is an increase from IDACORP's previous quarterly dividend of $0.88. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 5th. IDACORP's payout ratio is 58.28%.

Institutional Investors Weigh In On IDACORP

A number of institutional investors have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in IDACORP by 0.4% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 239,006 shares of the energy company's stock valued at $31,245,000 after purchasing an additional 898 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of IDACORP by 30.5% during the third quarter. Apollon Wealth Management LLC now owns 2,654 shares of the energy company's stock worth $347,000 after purchasing an additional 620 shares during the period. Signaturefd LLC increased its holdings in shares of IDACORP by 17.4% during the third quarter. Signaturefd LLC now owns 4,161 shares of the energy company's stock worth $544,000 after purchasing an additional 617 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of IDACORP during the third quarter worth approximately $590,000. Finally, Wedbush Securities Inc. raised its position in shares of IDACORP by 7.3% in the third quarter. Wedbush Securities Inc. now owns 2,071 shares of the energy company's stock valued at $271,000 after buying an additional 141 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Company Profile

IDACORP, Inc is a holding company whose principal subsidiary, Idaho Power Company, is a regulated electric utility. Idaho Power generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves customers across southern Idaho and eastern Oregon. Its power supply includes a substantial hydroelectric system, along with energy from thermal, wind, solar and other resources. The company also operates and maintains the transmission and distribution infrastructure needed to deliver electricity throughout its service area.

Idaho Power traces its history to 1916, when it was established to provide electric service in Idaho.

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