IDACORP, Inc. (NYSE:IDA) Receives $123.57 Average PT from Brokerages

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%.

IDACORP, Inc. (NYSE:IDA - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $123.5714.

Several equities analysts have recently commented on IDA shares. Morgan Stanley set a $133.00 price objective on IDACORP and gave the company an "outperform" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, UBS Group reiterated a "neutral" rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th.

IDACORP Price Performance

Shares of IDACORP stock traded down $0.62 during trading on Thursday, hitting $124.48. 366,351 shares of the stock traded hands, compared to its average volume of 318,554. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.62 and a beta of 0.59. The firm's fifty day moving average is $121.93 and its 200-day moving average is $117.71. IDACORP has a 52 week low of $99.81 and a 52 week high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting the consensus estimate of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period in the prior year, the company earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts expect that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 annualized dividend and a yield of 2.8%. IDACORP's dividend payout ratio is currently 60.56%.

Institutional Investors Weigh In On IDACORP

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in IDACORP by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company's stock valued at $410,970,000 after acquiring an additional 111,182 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in IDACORP by 10.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock valued at $245,243,000 after acquiring an additional 200,465 shares during the period. State Street Corp boosted its holdings in IDACORP by 6.3% during the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company's stock valued at $216,264,000 after acquiring an additional 110,885 shares during the period. Alliancebernstein L.P. boosted its holdings in IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company's stock valued at $162,190,000 after acquiring an additional 13,283 shares during the period. Finally, Jennison Associates LLC boosted its holdings in IDACORP by 115.3% during the 2nd quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company's stock valued at $152,816,000 after acquiring an additional 708,989 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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.