IDACORP (NYSE:IDA) Upgraded at Wall Street Zen

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

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

IDACORP Stock Performance

IDA opened at $138.10 on Friday. The business has a fifty day simple moving average of $143.83 and a 200 day simple moving average of $143.31. The company has a market capitalization of $7.99 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.47. IDACORP has a 1 year low of $122.30 and a 1 year high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75.

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

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP’s payout ratio is 58.28%.

Institutional Investors Weigh In On IDACORP

A number of hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. increased its position in IDACORP by 48.0% during the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after purchasing an additional 98 shares in the last quarter. Sanctuary Advisors LLC grew its stake 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 buying an additional 103 shares during the last quarter. Quadrant Capital Group LLC grew its stake 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 buying an additional 106 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of IDACORP by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock worth $1,477,000 after buying an additional 106 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares in the last quarter. 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.