IDACORP, Inc. (NYSE:IDA) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• IDACORP, Inc. has received an average analyst recommendation of "Moderate Buy", with two analysts recommending a hold and five recommending a buy.
• The company reported a EPS of $1.76 for the last quarter, meeting analysts' expectations, and had a revenue of $531.10 million, surpassing the forecast of $478.14 million.
• IDACORP announced a quarterly dividend of $0.86, representing an annualized yield of 2.7% and a payout ratio of 60.56%.

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $123.5714.

A number of research analysts have recently commented on the stock. Guggenheim increased their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley set a $133.00 price objective on shares of IDACORP and gave the company an "outperform" rating in a report on Thursday, August 21st. UBS Group reiterated a "neutral" rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, Wells Fargo & Company raised their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd.

IDACORP Stock Up 0.1%

IDA stock opened at $126.82 on Thursday. The stock has a market capitalization of $6.85 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. IDACORP has a 12 month low of $99.81 and a 12 month high of $128.50. The firm has a 50-day moving average price of $121.09 and a 200-day moving average price of $117.28.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting analysts' consensus estimates of $1.76. The firm had revenue of $531.10 million during the quarter, compared to analysts' expectations of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter in the prior year, the business earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities research analysts anticipate that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 60.56%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. KBC Group NV raised its holdings in IDACORP by 21.2% in the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company's stock valued at $273,000 after buying an additional 411 shares during the last quarter. GAMMA Investing LLC raised its holdings in IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after buying an additional 127 shares during the last quarter. Teacher Retirement System of Texas increased its position in IDACORP by 103.0% during the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after purchasing an additional 4,305 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in IDACORP by 7.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock valued at $765,000 after purchasing an additional 456 shares during the period. Finally, Bessemer Group Inc. increased its position in IDACORP by 318.9% during the 1st quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company's stock valued at $163,000 after purchasing an additional 1,065 shares during the period. 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.

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