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 note published on Sunday morning.

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

IDACORP Stock Performance

NYSE IDA opened at $144.69 on Friday. The firm has a 50-day moving average of $145.72 and a 200-day moving average of $142.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. The stock has a market cap of $8.37 billion, a PE ratio of 23.96, a P/E/G ratio of 2.47 and a beta of 0.48. IDACORP has a 52-week low of $122.30 and a 52-week high of $154.91.

IDACORP (NYSE:IDA) last announced its quarterly earnings results 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 net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. During the same quarter in the prior year, the business earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, sell-side analysts anticipate that IDACORP will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s dividend payout ratio is presently 58.28%.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Institutional Trading of IDACORP

Institutional investors and hedge funds have recently modified their holdings of the business. Orion Porfolio Solutions LLC grew its position in IDACORP by 3,215.7% in the second quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after acquiring an additional 586,221 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of IDACORP in the 3rd quarter valued at approximately $71,031,000. Capital Research Global Investors acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $44,511,000. Invesco Ltd. boosted its stake in shares of IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after purchasing an additional 344,622 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of IDACORP during the 4th quarter valued at approximately $38,817,000. 89.10% of the stock is currently owned by institutional investors.

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.