Wall Street Zen Upgrades IDACORP (NYSE:IDA) to “Hold”

IDACORP (NYSE:IDA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

IDA has been the subject of several other reports. Wells Fargo & Company boosted their price objective on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Barclays decreased their price target on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. Finally, Morgan Stanley dropped their price objective on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $153.86.

IDACORP Stock Down 0.1%

Shares of NYSE IDA opened at $135.62 on Friday. The company’s 50-day simple moving average is $144.09 and its 200-day simple moving average is $143.33. IDACORP has a 52-week low of $122.30 and a 52-week high of $154.91. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.34 and a beta of 0.47. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The business had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter in the previous year, the company earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities analysts predict that IDACORP will post 6.38 EPS for the current fiscal year.

Institutional Trading of IDACORP

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of 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 purchasing an additional 9,627,359 shares during the last quarter. BlackRock Inc. purchased a new stake in IDACORP in the 2nd quarter valued at about $1,033,914,000. Orion Porfolio Solutions LLC lifted 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 buying an additional 586,221 shares during the last quarter. Zimmer Partners LP acquired a new position in IDACORP in the third quarter valued at about $71,031,000. Finally, Bank of New York Mellon Corp purchased a new position in IDACORP during the second quarter worth about $72,143,000. 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.