IDACORP (NYSE: IDA)

IDACORP is an Idaho-Based company consisting of a holding company (Idaho Power Company), a holder of affordable housing and real estate investments (IDACORP Financial), and an operator of small hydroelectric generation projects (Ida-West Energy). It is vital to electric utilities serving mainly Idaho and also Oregon. 

IDACORP just raised its quarterly dividend by around 2.3% per share ($3.52 annualized). The dividend yield is now around 2.74% higher than the S&P 500, which has an average of 1.1%. Since 2011, IDACORP has raised its dividend averaging 7.4% annual growth. The consistency in growth makes this stock a good pick for income-focused investors. However, this may need to be proceeded with caution as other companies in the industry have had higher yields, meaning they may be better for short-term payouts. 

IDA may be able to support long-term growth, as they plan to invest heavily in infrastructure, investing around $1B in 2025, projected to increase between 2026 and 2029. This will expand their capacity and strengthen their operations leading to hopeful long-term growth. Revenue is projected to reach around $2.3B by 2028 with earnings totaled at around $441.8M. Estimated fair value is ranged from $99.92 to $135, with Simply Wall St.’s base case at around $132.67 which is around a 6% upside from current prices. This shows steady increase and appreciation potential in IDA. 

IDACORP is suited for conservative investors who are looking for a stable stock, rather than high yield or rapid growth ones. Investors who value steady income will likely see this as a good buy, however those seeking higher immediate dividend returns should look into alternatives.