Research Analysts’ Weekly Ratings Updates for IDACORP (IDA)

Several analysts have recently updated their ratings and price targets for IDACORP (NYSE: IDA):

• 11/6/2024 – IDACORP was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/5/2024 – IDACORP was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $117.00 price target on the stock, up previously from $113.00.
• 11/1/2024 – IDACORP was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating. They now have a $116.00 price target on the stock, up previously from $102.00.
• 10/29/2024 – IDACORP was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/16/2024 – IDACORP had its price target raised by analysts at Wells Fargo & Company from $106.00 to $109.00. They now have an “equal weight” rating on the stock.
• 9/25/2024 – IDACORP had its price target raised by analysts at Morgan Stanley from $102.00 to $108.00. They now have an “equal weight” rating on the stock.
• 9/20/2024 – IDACORP is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $110.00 price target on the stock.
• 9/12/2024 – IDACORP is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $110.00 price target on the stock.

IDACORP Stock Performance

Shares of IDA stock traded up $1.92 during trading on Wednesday, hitting $111.44. The company’s stock had a trading volume of 509,099 shares, compared to its average volume of 346,306. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.93 billion, a PE ratio of 20.68, a P/E/G ratio of 3.58 and a beta of 0.60. The business has a fifty day moving average of $103.20 and a 200-day moving average of $98.59. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $112.03.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. During the same period in the previous year, the firm earned $2.07 EPS. As a group, research analysts anticipate that IDACORP, Inc. will post 5.35 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, November 5th. IDACORP’s dividend payout ratio (DPR) is currently 61.60%.

Hedge Funds Weigh In On IDACORP

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of IDACORP during the 3rd quarter valued at about $26,000. Rise Advisors LLC increased its stake in IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of IDACORP in the second quarter valued at approximately $35,000. Eastern Bank purchased a new position in IDACORP during the 3rd quarter worth $52,000. Finally, 1620 Investment Advisors Inc. bought a new position in IDACORP in the second quarter worth approximately $71,000. 89.10% of the stock is owned by institutional investors.

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.