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.

Other equities research analysts have also recently issued reports about the stock. Mizuho raised their price target on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company upgraded shares of IDACORP to a “hold” rating in a report on Tuesday, October 28th. UBS Group lowered their target price on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays initiated coverage on IDACORP in a research report on Wednesday. They set an “overweight” rating and a $144.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, IDACORP currently has an average rating of “Buy” and a consensus target price of $138.56.

IDACORP Price Performance

Shares of IDACORP stock opened at $134.65 on Friday. The stock has a market capitalization of $7.28 billion, a P/E ratio of 23.14, a PEG ratio of 2.62 and a beta of 0.61. The business has a 50 day simple moving average of $128.02 and a two-hundred day simple moving average of $127.26. IDACORP has a 12 month low of $107.27 and a 12 month high of $138.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.The firm had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. During the same period in the previous year, the company posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, analysts predict that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio is 60.48%.

Institutional Trading of IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in IDACORP during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Quent Capital LLC purchased a new position in shares of IDACORP during the 3rd quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new stake in IDACORP in the 2nd quarter valued at approximately $31,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in IDACORP in the third quarter valued at approximately $34,000. 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.