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

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

Several other analysts have also recently commented on the company. Morgan Stanley set a $139.00 target price on IDACORP and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Mizuho increased their price objective on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Wells Fargo & Company upgraded shares of IDACORP to a “hold” rating in a research report on Tuesday, October 28th. UBS Group reduced their target price on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.88.

IDACORP Price Performance

NYSE:IDA opened at $128.07 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. The firm has a market cap of $6.92 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. IDACORP has a 12 month low of $104.74 and a 12 month high of $138.03. The company’s 50-day moving average price is $127.77 and its two-hundred day moving average price is $126.50.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $524.42 million during the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. During the same quarter in the previous year, the company posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, equities analysts anticipate that IDACORP will post 5.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of IDACORP by 6.3% during the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after purchasing an additional 110,885 shares during the period. Reaves W H & Co. Inc. grew its position in shares of IDACORP by 8.5% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock worth $224,745,000 after buying an additional 133,836 shares during the period. Alliancebernstein L.P. increased its stake in shares of IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after acquiring an additional 13,283 shares during the last quarter. Jennison Associates LLC raised its position in shares of IDACORP by 3.5% in the 3rd quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock valued at $181,055,000 after acquiring an additional 46,413 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of IDACORP by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock valued at $117,905,000 after acquiring an additional 15,223 shares during the period. Institutional investors and hedge funds 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.