IDACORP, Inc. (NYSE:IDA) Receives $123.57 Consensus Target Price from Brokerages

Key Points

• IDACORP, Inc. has an average analyst rating of "Moderate Buy", with five buy ratings and two holds from seven brokerages.
• The company's stock has a 12-month target price averaging $123.57, with recent targets set at $133.00 by Morgan Stanley and $120.00 by UBS Group.
• IDACORP recently declared a quarterly dividend of $0.86, which equates to an annual yield of 2.7% and a payout ratio of 60.56%.

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

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

Institutional Investors Weigh In On IDACORP

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in IDACORP during the 2nd quarter worth approximately $28,000. Elite Financial Inc. bought a new stake in IDACORP during the 1st quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in IDACORP during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its holdings in IDACORP by 621.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after acquiring an additional 230 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in IDACORP during the 1st quarter worth approximately $34,000. 89.10% of the stock is owned by institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA traded up $0.48 during midday trading on Monday, hitting $126.18. The stock had a trading volume of 287,444 shares, compared to its average volume of 331,425. The company's 50-day moving average price is $124.34 and its 200-day moving average price is $118.73. The company has a market capitalization of $6.82 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. IDACORP has a fifty-two week low of $99.81 and a fifty-two week high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting the consensus estimate of $1.76. The company 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 period in the previous year, the company earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities research analysts predict that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.7%. IDACORP's payout ratio is 60.56%.

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.