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

IDACORP (NYSE:IDA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Mizuho upped their target price 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. Jefferies Financial Group reiterated a “buy” rating and set a $152.00 target price on shares of IDACORP in a report on Monday, December 1st. Wells Fargo & Company upgraded IDACORP to a “hold” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley set a $139.00 price objective on IDACORP and gave the stock an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.88.

IDACORP Price Performance

IDA opened at $128.07 on Friday. The stock has a market cap of $6.92 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.48 and a beta of 0.61. IDACORP has a 12 month low of $104.74 and a 12 month high of $138.03. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $127.77 and a 200 day simple moving average of $126.50.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IDA. SG Americas Securities LLC raised its stake in shares of IDACORP by 15.0% during the 4th quarter. SG Americas Securities LLC now owns 43,518 shares of the energy company’s stock worth $5,508,000 after purchasing an additional 5,672 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in IDACORP during the fourth quarter worth $603,000. Fulton Bank N.A. lifted its stake in IDACORP by 10.3% in the fourth quarter. Fulton Bank N.A. now owns 5,229 shares of the energy company’s stock valued at $662,000 after acquiring an additional 489 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in IDACORP by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,134 shares of the energy company’s stock valued at $2,342,000 after acquiring an additional 857 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its position in shares of IDACORP by 5.4% in the 4th quarter. Everhart Financial Group Inc. now owns 6,533 shares of the energy company’s stock valued at $827,000 after acquiring an additional 335 shares during the period. 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.