IDACORP (NYSE:IDA) Sets New 1-Year High – Here’s Why

IDACORP, Inc. (NYSE:IDA)’s share price hit a new 52-week high on Thursday . The stock traded as high as $149.75 and last traded at $148.96, with a volume of 21562 shares trading hands. The stock had previously closed at $147.27.

Analysts Set New Price Targets

IDA has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $152.00 price target on shares of IDACORP in a research report on Wednesday. Wells Fargo & Company restated an “underweight” rating and set a $121.00 target price on shares of IDACORP in a research report on Tuesday, April 21st. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Barclays lifted their price objective on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.29.

IDACORP Stock Performance

The firm has a market capitalization of $8.22 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.89 and a beta of 0.49. The stock has a 50-day moving average of $142.95 and a 200 day moving average of $138.26. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter in the previous year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, May 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s dividend payout ratio is 58.57%.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IDACORP

Large investors have recently modified their holdings of the stock. Torren Management LLC bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC bought a new position in IDACORP in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Summit Securities Group LLC acquired a new position in IDACORP during the 1st quarter worth $37,000. Finally, Measured Wealth Private Client Group LLC bought a new position in IDACORP in the 3rd quarter valued at $34,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

About IDACORP

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.