IDACORP (NYSE:IDA) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• IDACORP shares moved above their 200-day moving average, trading as high as $152.95 and last changing hands around $151.07, signaling recent technical strength in the stock.
• Analyst sentiment remains mostly positive, with six Buy ratings, one Hold, and one Sell; the consensus is a “Moderate Buy” with an average price target of $149.29.
• The company beat quarterly EPS expectations but missed revenue estimates, reporting $1.21 per share versus the $1.12 forecast, while revenue came in at $403.41 million compared with expectations of $437.51 million.

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $140.55 and traded as high as $152.95. IDACORP shares last traded at $151.0740, with a volume of 415,107 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDA. Barclays increased their price objective on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Wall Street Zen raised IDACORP from a "strong sell" rating to a "sell" rating in a research report on Tuesday, May 12th. Morgan Stanley restated an "overweight" rating and set a $152.00 target price on shares of IDACORP in a research note on Wednesday, June 24th. Mizuho set a $157.00 price target on shares of IDACORP in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.29.

IDACORP Trading Up 0.3%

The stock has a market capitalization of $8.37 billion, a PE ratio of 25.14, a P/E/G ratio of 3.00 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average price of $144.25 and a 200-day moving average price of $140.55.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The company had revenue of $403.41 million during the quarter, compared to analysts' expectations of $437.51 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Sell-side analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP's payout ratio is 58.57%.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president directly owned 2,138 shares of the company's stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On IDACORP

A number of hedge funds have recently modified their holdings of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company's stock worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. grew its holdings in IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company's stock valued at $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock valued at $16,698,000 after purchasing an additional 10,855 shares during the period. American Century Companies Inc. increased its position in IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company's stock worth $2,082,000 after buying an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. increased its position in IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company's stock worth $28,538,000 after buying an additional 13,297 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company's service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power's generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.

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