IDACORP, Inc. (NYSE:IDA - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $128.50 and last traded at $126.99, with a volume of 7555 shares. The stock had previously closed at $128.05.
Wall Street Analyst Weigh In
A number of brokerages have commented on IDA. Morgan Stanley set a $133.00 target price on shares of IDACORP and gave the stock an "outperform" rating in a report on Thursday, August 21st. UBS Group reiterated a "neutral" rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Guggenheim boosted 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. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.57.
Check Out Our Latest Stock Analysis on IDA
IDACORP Trading Down 0.0%
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 stock has a market cap of $6.76 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 2.61 and a beta of 0.56. The company's fifty day moving average price is $121.55 and its 200-day moving average price is $117.47.
IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. The firm 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 quarter in the prior year, the company posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.8%. IDACORP's dividend payout ratio is currently 60.56%.
Institutional Investors Weigh In On IDACORP
Large investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the 2nd quarter worth approximately $28,000. Elite Financial Inc. acquired a new stake in IDACORP during the first quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new position in IDACORP in the second quarter valued at $31,000. Caitong International Asset Management Co. Ltd raised its position in shares of IDACORP by 621.6% in the first 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 period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of IDACORP during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 89.10% of the company's stock.
About IDACORP
(
Get Free Report)
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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