IDACORP (NYSE:IDA) Reaches New 12-Month High - Should You Buy?

Key Points

• IDACORP shares reached a new 52-week high of $134.80, with a market capitalization of $7.25 billion and a current price of $134.08.
• Analysts have a consensus rating of "Moderate Buy" for IDACORP, with a target price of $123.29; five analysts rated it as a buy and three as a hold.
• The company recently announced a quarterly dividend of $0.86 per share, reflecting a yield of 2.6% and a payout ratio of 60.56%.

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $134.80 and last traded at $134.08, with a volume of 10696 shares trading hands. The stock had previously closed at $133.70.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IDA shares. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a report on Saturday, September 27th. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. UBS Group reaffirmed a "neutral" rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, Morgan Stanley cut their price target on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, IDACORP has a consensus rating of "Moderate Buy" and a consensus target price of $123.29.

IDACORP Stock Up 0.3%

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.56. The business has a fifty day moving average price of $126.40 and a two-hundred day moving average price of $119.87.

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 business 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 business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is currently 60.56%.

Hedge Funds Weigh In On IDACORP

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in IDACORP during the second quarter worth about $28,000. Elite Financial Inc. purchased a new stake in IDACORP in the 1st quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 purchasing an additional 230 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in shares of IDACORP during the 1st quarter valued at approximately $34,000. 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.

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