IDACORP (NYSE:IDA) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded IDACORP from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy,” supported by six Buy ratings and an average price target of $150.
• IDACORP reported stronger-than-expected quarterly results, with EPS of $2.73 versus the $2.51 consensus and revenue of $608.04 million versus estimates of $603 million.
• Management raised its full-year EPS guidance to $6.40–$6.50, while forecasting strong long-term electricity demand; institutional investors own approximately 89.1% of the company.

IDACORP (NYSE:IDA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other research firms also recently commented on IDA. Morgan Stanley raised their target price on shares of IDACORP from $143.00 to $144.00 and gave the company an "overweight" rating in a research report on Wednesday, October 21st. Wells Fargo & Company upped their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of IDACORP in a research report on Monday, August 3rd. Barclays dropped their price objective on shares of IDACORP from $162.00 to $149.00 and set an "overweight" rating on the stock in a research note on Friday, October 9th. Finally, BTIG Research set a $153.00 price objective on shares of IDACORP in a report on Tuesday, October 20th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

IDACORP Price Performance

Shares of IDA stock opened at $145.59 on Friday. IDACORP has a twelve month low of $124.12 and a twelve month high of $154.91. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $135.46 and a two-hundred day simple moving average of $140.69. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 2.48 and a beta of 0.48.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The energy company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.51 by $0.22. The firm had revenue of $608.04 million for the quarter, compared to analyst estimates of $603.00 million. IDACORP had a return on equity of 10.20% and a net margin of 19.84%. During the same quarter last year, the firm posted $2.26 earnings per share. On average, analysts predict that IDACORP will post 6.41 EPS for the current fiscal year.

Institutional Investors Weigh In On IDACORP

A number of institutional investors have recently added to or reduced their stakes in IDA. Provenance Wealth Advisors LLC acquired a new stake in IDACORP in the third quarter worth about $357,000. Oregon Public Employees Retirement Fund increased its holdings in shares of IDACORP by 4.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 12,009 shares of the energy company's stock valued at $1,570,000 after acquiring an additional 547 shares in the last quarter. Summit Wealth Group LLC Co. increased its holdings in shares of IDACORP by 5.5% during the third quarter. Summit Wealth Group LLC Co. now owns 2,525 shares of the energy company's stock valued at $330,000 after acquiring an additional 131 shares in the last quarter. Parcion Private Wealth LLC increased its holdings in shares of IDACORP by 45.8% during the third quarter. Parcion Private Wealth LLC now owns 2,220 shares of the energy company's stock valued at $290,000 after acquiring an additional 697 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of IDACORP by 12.8% in the 3rd quarter. D.A. Davidson & CO. now owns 5,648 shares of the energy company's stock valued at $738,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Key Stories Impacting IDACORP

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: Third-quarter results exceeded expectations: IDACORP reported adjusted earnings of $2.73 per diluted share, up from $2.26 a year earlier and above the $2.51 analyst consensus. Revenue reached $608.0 million, also topping estimates of roughly $603.0 million. Net income rose to $160.2 million from $124.4 million. IDACORP Q3 earnings report
• Positive Sentiment: Full-year outlook was raised: Management increased 2026 EPS guidance to $6.40-$6.50 from $6.30-$6.45, modestly above the prior consensus estimate of $6.39. The upgrade reflects customer growth, higher Idaho Power base rates and stronger revenue from large contract customers. IDACORP revises 2026 earnings guidance
• Positive Sentiment: Long-term electricity demand expectations are favorable: IDACORP forecasts an 8.9% compound annual growth rate in retail sales load through 2032, supporting expectations for sustained customer and rate-base growth at Idaho Power. IDACORP long-term load growth outlook
• Neutral Sentiment: Regulatory and tax-credit items remain watch points: Idaho Power expects to use less than $10 million of additional tax credits under its Idaho regulatory mechanism in 2026. The earnings call focused on how rates, customer expansion and capital investment will affect future results. IDACORP Q3 earnings call transcript
• Negative Sentiment: Insider selling provides a minor counterpoint: Two executives sold 1,500 shares each during the past six months, with no reported insider purchases. These transactions are not necessarily related to the earnings outlook but could modestly temper sentiment. IDACORP insider trading and earnings report

About IDACORP

IDACORP, Inc is a holding company whose principal subsidiary, Idaho Power Company, is a regulated electric utility. Idaho Power generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves customers across southern Idaho and eastern Oregon. Its power supply includes a substantial hydroelectric system, along with energy from thermal, wind, solar and other resources. The company also operates and maintains the transmission and distribution infrastructure needed to deliver electricity throughout its service area.

Idaho Power traces its history to 1916, when it was established to provide electric service in Idaho.

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