IDACORP (NYSE:IDA) Sets New 1-Year High - What's Next?

Key Points

• IDACORP's stock price reached a new 52-week high at $136.07 during recent trading, closing at $135.78.
• Analyst ratings for IDACORP vary, with a consensus average rating of "Moderate Buy" and a target price of $123.29.
• The company announced a quarterly dividend of $0.86 per share, with an annualized yield of 2.5% and a payout ratio of 60.56%.

IDACORP, Inc. (NYSE:IDA - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $136.07 and last traded at $135.78, with a volume of 160035 shares traded. The stock had previously closed at $133.96.

Analyst Ratings Changes

Several research analysts have recently issued reports on IDA shares. UBS Group reaffirmed a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Morgan Stanley reduced their target price on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of IDACORP in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.29.

IDACORP Stock Up 0.9%

The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.87 and a beta of 0.56. The business's 50-day moving average is $127.41 and its two-hundred day moving average is $120.58. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting analysts' consensus estimates of $1.76. The business had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same period last year, the company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 60.56%.

Institutional Trading of IDACORP

Several hedge funds have recently bought and sold shares of IDA. Jennison Associates LLC raised 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 worth $152,816,000 after buying an additional 708,989 shares during the period. Orion Porfolio Solutions LLC grew its stake in shares of IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company's stock worth $69,784,000 after acquiring an additional 586,221 shares in the last quarter. Soros Fund Management LLC acquired a new stake in shares of IDACORP in the second quarter valued at approximately $46,919,000. Lord Abbett & CO. LLC raised its holdings in shares of IDACORP by 128.1% in the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock valued at $60,914,000 after purchasing an additional 294,342 shares during the last quarter. Finally, BROOKFIELD Corp ON acquired a new stake in shares of IDACORP in the second quarter valued at approximately $33,920,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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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