IDACORP (NYSE:IDA) Upgraded at Barclays

Barclays upgraded shares of IDACORP (NYSE:IDA) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

IDA has been the topic of several other reports. Mizuho upped their price target on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley set a $139.00 price target on shares of IDACORP and gave the company an “overweight” rating in a research report on Tuesday, December 16th. BTIG Research raised IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $138.56.

IDACORP Stock Up 1.4%

IDACORP stock opened at $134.65 on Wednesday. The firm has a 50 day simple moving average of $128.02 and a 200 day simple moving average of $127.09. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. IDACORP has a 1-year low of $107.27 and a 1-year high of $138.03. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 2.58 and a beta of 0.61.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.The firm had revenue of $524.42 million for the quarter, compared to the consensus estimate of $663.09 million. During the same quarter in the prior year, the business posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, analysts predict that IDACORP will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. IDACORP’s dividend payout ratio is 60.48%.

Institutional Trading of IDACORP

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in IDACORP by 21.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,318 shares of the energy company’s stock worth $1,191,000 after purchasing an additional 1,834 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of IDACORP by 26.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,558 shares of the energy company’s stock worth $1,219,000 after purchasing an additional 2,178 shares during the last quarter. Bahl & Gaynor Inc. acquired a new stake in shares of IDACORP during the 2nd quarter worth about $577,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of IDACORP during the third quarter worth about $21,486,000. Finally, Envestnet Asset Management Inc. raised its position in shares of IDACORP by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 185,762 shares of the energy company’s stock valued at $21,446,000 after buying an additional 14,145 shares during the last quarter. Hedge funds and other 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.