IDACORP (NYSE:IDA) Cut to Strong Sell at Wall Street Zen
by Michael Walen · The Markets Daily
Wall Street Zen downgraded shares of IDACORP (NYSE:IDA – Free Report) from a sell rating to a strong sell rating in a report released on Saturday.
A number of other equities research analysts also recently weighed in on IDA. Jefferies Financial Group lowered their target price on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. BTIG Research reiterated a “buy” rating and issued a $156.00 target price on shares of IDACORP in a report on Friday, January 30th. UBS Group lifted their target price on IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Barclays lifted their target price on IDACORP from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.25.
View Our Latest Stock Analysis on IDACORP
IDACORP Trading Down 1.5%
Shares of IDA stock opened at $145.78 on Friday. The company has a market cap of $8.01 billion, a P/E ratio of 24.71, a PEG ratio of 2.95 and a beta of 0.54. The stock has a 50 day simple moving average of $142.60 and a two-hundred day simple moving average of $134.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93. IDACORP has a fifty-two week low of $108.15 and a fifty-two week high of $149.73.
IDACORP (NYSE:IDA – Get Free Report) last issued its earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $405.24 million during the quarter, compared to the consensus estimate 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 posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts forecast that IDACORP will post 6.39 earnings per share for the current year.
IDACORP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. IDACORP’s payout ratio is presently 59.66%.
Insider Activity
In related news, VP Julia A. Hilton sold 1,000 shares of IDACORP 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 transaction, the vice president owned 2,313 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of IDA. Orion Porfolio Solutions LLC boosted its position in shares of IDACORP by 3,215.7% during 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 purchased a new position in shares of IDACORP during the third quarter valued at approximately $71,031,000. Capital Research Global Investors purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $44,511,000. Invesco Ltd. boosted its position in shares of IDACORP by 139.4% during the third quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after buying an additional 344,622 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $38,817,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.
IDACORP Company Profile
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.