IDACORP (NYSE:IDA) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of IDACORP (NYSE:IDA) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

IDA has been the subject of several other research reports. Barclays began coverage on shares of IDACORP in a research report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $152.00 price target on shares of IDACORP in a report on Monday, December 1st. UBS Group dropped their price target on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.11.

IDACORP Stock Up 0.2%

Shares of IDACORP stock opened at $132.45 on Monday. The company has a fifty day moving average price of $128.54 and a 200 day moving average price of $127.96. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. IDACORP has a twelve month low of $107.95 and a twelve month high of $138.03. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 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 company had revenue of $524.42 million for the quarter, compared to analysts’ expectations of $663.09 million. During the same quarter in the previous year, the firm posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts forecast that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, February 5th. IDACORP’s dividend payout ratio is 60.48%.

Institutional Trading of IDACORP

Hedge funds and other institutional investors have recently bought and sold shares of the company. AMG National Trust Bank lifted its holdings in IDACORP by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 11,665 shares of the energy company’s stock worth $1,542,000 after buying an additional 80 shares during the last quarter. Assetmark Inc. raised its position in shares of IDACORP by 7.6% during the 3rd quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock valued at $149,000 after acquiring an additional 80 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in IDACORP by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock worth $53,000 after purchasing an additional 97 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in IDACORP by 13.4% in the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after purchasing an additional 99 shares during the period. 89.10% of the stock is owned by 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.