IDACORP, Inc. (IDA) Stock Price & How to Invest

IDACORP is the parent of Idaho Power Company, a vertically integrated regulated electric utility that generates, transmits, and distributes electricity to more than 640,000 customers across a growing territory in southern Idaho and eastern Oregon. Its earnings come mainly from regulated rates set by the Idaho Public Utilities Commission and Oregon regulators, so profitability is tied to the utility's allowed return on a growing rate base rather than to commodity prices. A hydro-heavy generation fleet plus purchased power and battery storage rounds out the resource mix.

The investment picture is a classic regulated-utility one, tilted toward growth by an unusually strong local economy. Meta, Micron, and other large industrial and data-center loads are pushing electricity demand higher than the national average, which supports a large multi-year capital plan and steady customer additions. In return, investors accept the usual utility trade-offs: earnings capped by regulation, sensitivity to interest rates and financing costs, and reliance on constructive rate outcomes to earn on new investment.

As a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. Heavy financing needs make the stock sensitive to interest rates, and rising utility bills tied to serving big data-center loads have drawn political and customer pushback in Idaho. Its hydro-heavy fleet exposes it to drought and weather variability, while concentration in a few very large industrial customers adds demand risk if any pull back. The valuation, at a mid-20s trailing earnings multiple, prices in continued growth, so disappointments could weigh on the shares.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see IDACORP, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$1.9B
• Q1 2026 revenue: ~$403M
• Q1 2026 diluted EPS: ~$1.21
• 2026 EPS guidance: ~$6.25 to $6.45
• Market cap: ~$8.3B
• Dividend (annual): ~$3.52 (~2.5% yield)
• P/E (TTM): ~22 to 24x

IDACORP trades at a mid-20s trailing earnings multiple, a modest premium that reflects its above-average load growth. Revenue dipped year over year in Q1 2026 even as net income rose, a reminder that utility earnings track allowed returns more than top-line sales. The dividend yield of roughly 2.5% is on the lower side for utilities, consistent with the market pricing in growth.

There are three common ways to get IDA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so IDA sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where IDA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

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IDA is a regulated-utility story where load growth from data centers and industrial expansion is funding a record capital plan, with returns tied to how regulators treat that spending.

Whether IDA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is IDA a buy?, and where the stock could go from here in the IDA stock forecast.

For income investors, whether IDA pays a dividend and how the payout looks is covered in does IDA pay a dividend?