Zacks Research Analysts Raise Earnings Estimates for IDACORP

IDACORP, Inc. (NYSE:IDA - Free Report) - Equities researchers at Zacks Research boosted their FY2027 earnings estimates for IDACORP in a report released on Tuesday, June 17th. Zacks Research analyst R. Department now expects that the energy company will earn $6.86 per share for the year, up from their prior forecast of $6.76. The consensus estimate for IDACORP's current full-year earnings is $5.81 per share.

Other equities research analysts have also issued research reports about the stock. UBS Group dropped their target price on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, June 2nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Wall Street Zen cut shares of IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $122.86.

IDACORP Price Performance

Shares of IDACORP stock traded down $0.11 during trading hours on Thursday, reaching $113.49. 441,928 shares of the company's stock were exchanged, compared to its average volume of 358,856. IDACORP has a 1 year low of $90.67 and a 1 year high of $120.84. The company has a market capitalization of $6.13 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58. The business has a fifty day moving average of $115.93 and a two-hundred day moving average of $113.58. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 1.03.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The business had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.03%. IDACORP's payout ratio is currently 61.10%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IDA. Empowered Funds LLC acquired a new position in IDACORP in the fourth quarter valued at about $210,000. Allspring Global Investments Holdings LLC lifted its position in IDACORP by 3,692.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 64,655 shares of the energy company's stock valued at $7,014,000 after buying an additional 62,950 shares during the last quarter. Van ECK Associates Corp lifted its position in IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock valued at $1,809,000 after buying an additional 2,056 shares during the last quarter. Rhumbline Advisers lifted its position in IDACORP by 1.6% in the fourth quarter. Rhumbline Advisers now owns 173,106 shares of the energy company's stock valued at $18,917,000 after buying an additional 2,667 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in IDACORP by 9.2% in the fourth quarter. Principal Securities Inc. now owns 4,318 shares of the energy company's stock valued at $472,000 after buying an additional 364 shares during the last quarter. 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.