IDACORP (NYSE:IDA) Stock Rating Upgraded by Wall Street Zen

IDACORP (NYSE:IDA) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

A number of other brokerages have also recently issued reports on IDA. Morgan Stanley reiterated an “overweight” rating and set a $156.00 target price on shares of IDACORP in a report on Wednesday. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $121.00 to $154.00 in a research report on Tuesday. BTIG Research reiterated a “buy” rating and set a $160.00 price objective on shares of IDACORP in a research note on Thursday. Finally, Barclays increased their price objective on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and an average target price of $155.14.

IDACORP Trading Down 0.4%

IDA stock opened at $148.80 on Friday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.98 and a beta of 0.48. 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 fifty day simple moving average of $145.27 and a 200-day simple moving average of $141.83. IDACORP has a 52 week low of $120.52 and a 52 week high of $154.91.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter last year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities research analysts expect that IDACORP will post 6.39 EPS for the current year.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On IDACORP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after buying an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after acquiring an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after acquiring an additional 10,855 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after acquiring an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after acquiring an additional 13,297 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

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.