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

IDACORP (NYSE:IDA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other analysts also recently weighed in on IDA. Mizuho set a $157.00 target price on IDACORP in a report on Friday, May 1st. Morgan Stanley restated an “overweight” rating and set a $156.00 price target on shares of IDACORP in a research note on Wednesday, July 22nd. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Barclays boosted their price objective on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, BTIG Research reissued a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Six equities 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 stock has an average rating of “Moderate Buy” and a consensus target price of $154.57.

IDACORP Stock Up 0.7%

IDA stock opened at $143.91 on Friday. The stock has a market cap of $7.97 billion, a P/E ratio of 23.83, a PEG ratio of 2.46 and a beta of 0.48. 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 twelve month low of $122.30 and a twelve month high of $154.91. The company’s 50 day moving average is $145.68 and its two-hundred day moving average is $142.65.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The company had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter in the prior year, the firm posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Research analysts expect that IDACORP will post 6.39 earnings per share for the current fiscal year.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were 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 in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. 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

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

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.