IDACORP (NYSE:IDA) Announces Quarterly Earnings Results

IDACORP (NYSE:IDA) released its quarterly earnings data on Thursday. The energy company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01, Briefing.com reports. The business had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter last year, the business posted $1.76 EPS. IDACORP updated its FY 2026 guidance to 6.300-6.450 EPS.

Here are the key takeaways from IDACORP’s conference call:

• IDACORP raised its 2026 EPS guidance floor to $6.30-$6.45 from $6.25-$6.45, citing strong operating performance and lower expected use of additional tax-credit amortization, now projected at less than $15 million versus less than $30 million previously.
• Customer growth remains robust, with customer counts up 2.3% year over year and industrial revenue up 17%; large-customer revenue contributed $6.5 million to quarterly operating income and is expected to ramp further in the second half.
• Idaho Power continues expanding capacity and grid flexibility, including 250 MW of newly operational battery storage, a 125-MW solar project, the Valmy coal-to-gas conversion, and progress on major transmission and natural-gas generation projects.
• Capital spending is expected at $1.3 billion-$1.5 billion in 2026, trending toward the high end, while the company has funded roughly half of its estimated $2 billion five-year equity requirement through ATM and forward-sale agreements.
• Management said a 2027 Idaho general rate case is increasingly likely as substantial investment enters service and depreciation and interest costs rise, although strong large-customer revenues could help moderate the request and reduce reliance on tracking mechanisms.

IDACORP Trading Down 1.5%

NYSE:IDA traded down $2.19 during midday trading on Thursday, hitting $142.21. 423,893 shares of the company traded hands, compared to its average volume of 522,405. The firm’s fifty day moving average is $145.61 and its 200-day moving average is $142.44. The firm has a market capitalization of $7.88 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.88 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. IDACORP has a 12-month low of $122.30 and a 12-month high of $154.91.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.5%. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Activity

In other 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 stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the transaction, the vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On IDACORP

A number of large investors have recently bought and sold shares of the business. Morgan Stanley increased its stake in IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after purchasing an additional 188,845 shares during the period. State Street Corp grew its holdings in shares of IDACORP by 0.6% in the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after purchasing an additional 11,403 shares during the last quarter. Alliancebernstein L.P. increased its stake in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after buying an additional 13,283 shares during the period. Zimmer Partners LP lifted its holdings in IDACORP by 48.9% during the 4th quarter. Zimmer Partners LP now owns 800,492 shares of the energy company’s stock valued at $101,310,000 after buying an additional 262,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in IDACORP by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 745,810 shares of the energy company’s stock valued at $94,392,000 after buying an additional 2,260 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IDA. Wells Fargo & Company raised IDACORP from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $121.00 to $154.00 in a research note on Tuesday, July 21st. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. BTIG Research reissued a “buy” rating and issued a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $156.00 target price on shares of IDACORP in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and a consensus price target of $155.14.

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.