IDACORP (NYSE:IDA) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of IDACORP (NYSE:IDA) from a sell rating to a strong sell rating in a research note released on Monday morning.

A number of other equities analysts also recently weighed in on the company. Wells Fargo & Company reaffirmed an “underweight” rating and set a $121.00 price target on shares of IDACORP in a research report on Tuesday, April 21st. BTIG Research reaffirmed a “buy” rating and set a $156.00 price target on shares of IDACORP in a research report on Friday, January 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $157.00 price target on shares of IDACORP in a research report on Monday, April 27th. Mizuho set a $157.00 price target on IDACORP in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.86.

IDACORP Trading Down 0.4%

NYSE:IDA opened at $146.53 on Monday. IDACORP has a twelve month low of $108.15 and a twelve month high of $149.73. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average price of $143.36 and a two-hundred day moving average price of $135.43. The company has a market cap of $8.05 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.52.

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 analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the prior year, the firm posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, analysts expect that IDACORP will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP’s dividend payout ratio is currently 58.57%.

Insider Activity

In other news, VP Julia A. Hilton sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the sale, the vice president owned 2,313 shares in the company, valued at $330,273.27. This represents a 30.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IDACORP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in shares of IDACORP by 9.9% during the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after acquiring an additional 188,845 shares during the last quarter. State Street Corp increased its holdings in shares of IDACORP by 0.6% during the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after acquiring an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. increased its holdings in shares of IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after acquiring an additional 107,131 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of IDACORP by 8.3% during the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after acquiring an additional 113,579 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after acquiring an additional 13,283 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

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.