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

Wall Street Zen cut shares of IDACORP (NYSE:IDA) from a sell rating to a strong sell rating in a report released on Saturday.

Several other brokerages have also weighed in on IDA. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Wells Fargo & Company lowered IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $129.00 to $118.00 in a report on Tuesday, January 20th. Mizuho boosted their price objective on IDACORP from $141.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, February 20th. UBS Group boosted their price objective on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Finally, Barclays boosted their price objective on IDACORP from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Seven equities research 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. According to MarketBeat.com, IDACORP currently has a consensus rating of “Moderate Buy” and an average price target of $144.25.

IDACORP Price Performance

Shares of IDACORP stock opened at $148.08 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.93. The firm has a market cap of $8.14 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.95 and a beta of 0.54. IDACORP has a fifty-two week low of $108.15 and a fifty-two week high of $149.73. The business has a 50-day moving average price of $142.39 and a 200 day moving average price of $134.65.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $405.24 million during the quarter, compared to analyst estimates of $533.06 million. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.During the same period in the previous year, the company earned $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts forecast that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. IDACORP’s payout ratio is currently 59.66%.

Insider Activity

In other news, VP Julia A. Hilton sold 1,000 shares of the business’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 completion of the transaction, the vice president directly owned 2,313 shares in the company, valued at approximately $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mountain Pacific Investment Advisers LLC acquired a new position in shares of IDACORP during the first quarter worth approximately $210,000. SG Americas Securities LLC boosted its position in shares of IDACORP by 6.1% during the first quarter. SG Americas Securities LLC now owns 46,193 shares of the energy company’s stock worth $6,604,000 after buying an additional 2,675 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of IDACORP by 190.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 45,417 shares of the energy company’s stock worth $6,493,000 after buying an additional 29,780 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of IDACORP by 11.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,770 shares of the energy company’s stock worth $730,000 after buying an additional 573 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of IDACORP by 55.0% during the fourth quarter. Corient Private Wealth LLC now owns 8,538 shares of the energy company’s stock worth $1,081,000 after buying an additional 3,030 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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.