IDACORP's regulated electric operations in Idaho are benefiting from rising demand and a customer base that increased 2.3% year over year. The company plans significant capital expenditure of $1.25-$1.35 billion in 2026 and $3.1-$3.6 billion during 2027-2029 for infrastructure development and operational expansion. Idaho Power plans to shift to 100% clean energy production by 2045 through conversion of coal facilities to natural gas starting in 2026.
Cyborg Score Rationale
The stock is up 31.41% over the past twelve months, reflecting investor confidence. With a market cap of $7.80 billion and PE ratio of 24.80, valuations are reasonable for a regulated utility. Solid fundamentals with growing customer base and clear capital deployment strategy support sustainable growth.
Top Insights
Idaho Power customer base growing 2.3% year-over-year, outpacing broader utility industry growth
Substantial capital investment program ($4.35-$4.95B over 2026-2029) driving infrastructure modernization and service expansion
Clean energy transition underway with 100% renewable target by 2045 and coal-to-gas conversions beginning 2026
Attractive dividend yield of 2.4% with 60.48% payout ratio providing room for growth
Named Competitors
NextEra Energy — Large diversified utility with renewables focus
Dominion Energy — Major regional utility operator
Southern Company — Large southeastern utility and energy provider
Recent Developments
(February 2026) Declared common stock dividend of $0.88 per share, payable March 2, 2026
(February 2026) Q4 2025 earnings announcement scheduled for February 19, 2026
(October 2025) Mizuho upgraded price target to $144.00 with "outperform" rating
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