IDACORP (NYSE:IDA) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded IDACORP from “Sell” to “Hold.” Overall analyst sentiment remains “Moderate Buy,” with six Buy ratings, two Hold ratings, and an average price target of $153.86.
• IDACORP shares opened at $135.62, below their 50-day and 200-day moving averages, with a 52-week range of $122.30 to $154.91. The company reported quarterly EPS of $1.79, slightly ahead of estimates, but revenue of $469.8 million missed expectations.
• Institutional investors own approximately 89.1% of IDACORP’s stock, with several major funds recently increasing or initiating positions.

IDACORP (NYSE:IDA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Several other equities research analysts also recently commented on IDA. Morgan Stanley cut their price objective on IDACORP from $156.00 to $151.00 and set an "overweight" rating for the company in a report on Friday, August 21st. Wells Fargo & Company boosted their target price on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. BTIG Research reissued a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Finally, Barclays lowered their price objective 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. 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, IDACORP has an average rating of "Moderate Buy" and an average price target of $153.86.

IDACORP Price Performance

Shares of IDA stock opened at $135.62 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. The firm's 50 day moving average price is $144.41 and its two-hundred day moving average price is $143.39. The stock has a market cap of $7.84 billion, a PE ratio of 22.45, a PEG ratio of 2.34 and a beta of 0.47. IDACORP has a 52-week low of $122.30 and a 52-week high of $154.91.

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

Institutional Investors Weigh In On IDACORP

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of IDACORP by 14,200.9% in the second quarter. California State Teachers Retirement System now owns 9,695,153 shares of the energy company's stock valued at $1,466,877,000 after purchasing an additional 9,627,359 shares during the last quarter. BlackRock Inc. bought a new stake in shares of IDACORP during the 2nd quarter worth about $1,033,914,000. Orion Porfolio Solutions LLC boosted its holdings in shares of IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company's stock worth $69,784,000 after buying an additional 586,221 shares during the period. Zimmer Partners LP acquired a new position in IDACORP in the 3rd quarter valued at about $71,031,000. Finally, Bank of New York Mellon Corp bought a new position in IDACORP in the 2nd quarter valued at about $72,143,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source