IDACORP (NYSE:IDA) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of IDACORP (NYSE:IDA) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on IDA. Wells Fargo & Company increased their target price on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Morgan Stanley lowered their price target on IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. BTIG Research reiterated a “buy” rating and set a $160.00 price objective on shares of IDACORP in a research note on Thursday, July 23rd. Finally, Barclays cut their price objective on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.86.

IDACORP Price Performance

NYSE:IDA opened at $136.32 on Friday. The company has a 50-day moving average of $145.43 and a 200-day moving average of $143.56. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.34 and a beta of 0.48. IDACORP has a 52 week low of $122.30 and a 52 week high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share 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 analysts’ expectations of $511.87 million. During the same quarter in the previous year, the firm posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities research analysts anticipate that IDACORP will post 6.38 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 5th. IDACORP’s dividend payout ratio is 58.28%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in IDACORP by 14,200.9% during the 2nd quarter. California State Teachers Retirement System now owns 9,695,153 shares of the energy company’s stock worth $1,466,877,000 after buying an additional 9,627,359 shares in the last quarter. BlackRock Inc. bought a new stake in shares of IDACORP during the second quarter worth $1,033,914,000. Morgan Stanley raised its position in shares of IDACORP by 9.9% during the fourth 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 lifted its stake in shares of IDACORP by 0.6% during the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after acquiring an additional 11,403 shares during the period. Finally, Reaves W H & Co. Inc. lifted its stake in shares of IDACORP by 6.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after acquiring an additional 107,131 shares during the period. 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.