IDA Stock Summary and Trading Ideas (Idacorp | NYSE:IDA)

Idacorp Inc is a holding company that, through its subsidiaries, acts as an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity. To do this, Idacorp owns and operates a portfolio of hydroelectric, coal-fired, gas-fired, and diesel-fired power plants located across the Northwestern United States. The company's hydroelectric and coal-fired plants are responsible for Majority of its total energy production. Idacorp mainly generates revenue from the sale of electricity to retail and wholesale customers. The Majority of the company's customers are residential consumers living in the Northwestern United States, while commercial and industrial consumers also represent important revenue streams.

Idacorp trades on the NYSE stock market under the symbol IDA.

As of April 24, 2024, IDA stock price climbed to $94.32 with 253,226 million shares trading.

IDA has a beta of 0.36, meaning it tends to be less sensitive to market movements. IDA has a correlation of 0.06 to the broad based SPY ETF.

IDA has a market cap of $4.77 billion. This is considered a Mid Cap stock.

Last quarter Idacorp reported $290 million in Revenue and $.61 earnings per share. This beat revenue expectation by $20 million and exceeded earnings estimates by $.01.

In the last 3 years, IDA stock traded as high as $118.92 and as low as $86.43.

The top ETF exchange traded funds that IDA belongs to (by Net Assets): IJH, VTI, VB, DVY, VBR.

IDA has underperformed the market in the last year with a return of -13.2%, while the SPY ETF gained +24.1%. In the last 3 month period, IDA fell short of the market, returning +3.7%, while SPY returned +4.5%. However, in the most recent 2 weeks IDA has outperformed the stock market by returning +3.6%, while SPY returned -1.7%.

IDA support price is $92.95 and resistance is $95.27 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IDA stock will trade within this expected range on the day.