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

Wall Street Zen upgraded shares of IDACORP (NYSE:IDA) from a sell rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on IDA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. BTIG Research restated a “buy” rating and issued a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Barclays lowered their price target on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Finally, Morgan Stanley reduced their price objective on IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.86.

IDACORP Trading Down 0.1%

IDACORP stock opened at $135.62 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP has a 12 month low of $122.30 and a 12 month high of $154.91. The stock’s 50 day simple moving average is $144.41 and its two-hundred day simple moving average is $143.38. The firm has a market cap of $7.84 billion, a PE ratio of 22.45, a P/E/G ratio of 2.34 and a beta of 0.47.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. During the same period in the previous year, the firm earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Analysts anticipate that IDACORP will post 6.38 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 5th. IDACORP’s payout ratio is 58.28%.

Hedge Funds Weigh In On IDACORP

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of IDACORP by 14,200.9% in the second quarter. California State Teachers Retirement System now owns 9,695,153 shares of the energy company’s stock valued at $1,466,877,000 after purchasing an additional 9,627,359 shares during the period. BlackRock Inc. bought a new stake in IDACORP during the 2nd quarter valued at $1,033,914,000. Morgan Stanley lifted its holdings in shares of IDACORP by 9.9% in the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after buying an additional 188,845 shares during the period. State Street Corp lifted its holdings in shares of IDACORP by 0.6% in the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after buying an additional 11,403 shares during the period. Finally, Reaves W H & Co. Inc. grew its position in shares of IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after buying an additional 107,131 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

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.