IDACORP (NYSE:IDA) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of IDACORP (NYSE:IDA) from a strong sell rating to a sell rating in a research note published on Saturday.

A number of other brokerages have also commented on IDA. Morgan Stanley restated an “overweight” rating and set a $156.00 price objective on shares of IDACORP in a report on Wednesday. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $121.00 to $154.00 in a report on Tuesday. Barclays lifted their price target on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.14.

IDACORP Price Performance

NYSE IDA opened at $148.80 on Friday. The business has a 50 day simple moving average of $145.27 and a 200 day simple moving average of $141.83. IDACORP has a 52-week low of $120.52 and a 52-week high of $154.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.96 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The firm had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. During the same period last year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts anticipate that IDACORP will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s dividend payout ratio (DPR) is 58.57%.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

A number of large investors have recently modified their holdings of IDA. Torren Management LLC acquired a new stake in shares of IDACORP in the fourth quarter valued at about $25,000. Western Wealth Management LLC acquired a new position in IDACORP during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of IDACORP during the 3rd quarter worth approximately $34,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of IDACORP during the 4th quarter worth approximately $35,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.