Brokerages Set IDACORP, Inc. (NYSE:IDA) Target Price at $153.86

by · The Markets Daily

Shares of IDACORP, Inc. (NYSE:IDA – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $153.8571.

A number of analysts have recently commented on the company. BTIG Research restated a “buy” rating and issued a $160.00 price target on shares of IDACORP in a report on Thursday, July 23rd. Barclays lowered their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Morgan Stanley cut their target price on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Wells Fargo & Company lifted their target price on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday.

View Our Latest Analysis on IDACORP

IDACORP Price Performance

IDA opened at $136.29 on Monday. The company has a fifty day moving average price of $143.55 and a two-hundred day moving average price of $143.29. The firm has a market capitalization of $7.88 billion, a PE ratio of 22.56, a P/E/G ratio of 2.38 and a beta of 0.47. IDACORP has a 52 week low of $122.30 and a 52 week high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The company had revenue of $469.80 million for the quarter, compared to the consensus estimate of $511.87 million. During the same quarter in the prior year, the business posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, analysts anticipate that IDACORP will post 6.38 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in IDACORP by 14,200.9% in the 2nd quarter. California State Teachers Retirement System now owns 9,695,153 shares of the energy company’s stock valued at $1,466,877,000 after buying an additional 9,627,359 shares during the last quarter. BlackRock Inc. bought a new stake in shares of IDACORP in the 2nd quarter valued at about $1,033,914,000. Morgan Stanley boosted its holdings in IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after acquiring an additional 188,845 shares during the last quarter. State Street Corp increased its position in IDACORP by 0.6% during the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after purchasing an additional 11,403 shares during the period. Finally, Reaves W H & Co. Inc. raised its holdings in IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after purchasing an additional 107,131 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Company Profile

(Get Free Report)

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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