IDACORP (NYSE:IDA) Upgraded 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 issued to investors on Saturday morning.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $121.00 to $154.00 in a research note on Tuesday, July 21st. Barclays boosted their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Mizuho set a $157.00 price objective on shares of IDACORP in a research report on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and issued a $160.00 target price on shares of IDACORP in a research note on Thursday. Finally, Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Six research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.14.

IDACORP Stock Down 0.5%

Shares of NYSE:IDA opened at $147.79 on Friday. The firm has a fifty day moving average price of $145.41 and a two-hundred day moving average price of $142.07. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.96 and a beta of 0.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. IDACORP has a one year low of $120.52 and a one year high of $154.91.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share 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 analysts’ expectations of $437.51 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts anticipate that IDACORP will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio is currently 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 dated Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On IDACORP

Hedge funds and other institutional investors have recently modified their holdings of the company. AssuredPartners Investment Advisors LLC raised its holdings in shares of IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock valued at $209,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. boosted its stake in IDACORP by 48.0% in the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after buying an additional 98 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in IDACORP by 1.6% in the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock worth $927,000 after buying an additional 103 shares in the last quarter. Quadrant Capital Group LLC grew its position in IDACORP by 1.9% during the third quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock valued at $758,000 after acquiring an additional 106 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in IDACORP by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after acquiring an additional 106 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Company Profile

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.