IDACORP (NYSE:IDA) Stock Rating Upgraded by Barclays

IDACORP (NYSE:IDA) was upgraded by analysts at Barclays to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group reissued a “buy” rating and set a $152.00 price objective on shares of IDACORP in a research note on Monday, December 1st. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. UBS Group dropped their price objective on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $138.56.

IDACORP Stock Up 1.4%

IDA stock opened at $134.65 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $128.02 and a two-hundred day moving average of $127.09. IDACORP has a 12 month low of $107.27 and a 12 month high of $138.03. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.58 and a beta of 0.61.

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

Institutional Trading of IDACORP

Institutional investors have recently added to or reduced their stakes in the stock. Tema Etfs LLC boosted its position in shares of IDACORP by 88.9% during the fourth quarter. Tema Etfs LLC now owns 79,408 shares of the energy company’s stock worth $10,050,000 after buying an additional 37,380 shares during the period. Spirit of America Management Corp NY raised its holdings in shares of IDACORP by 8.3% in the 4th quarter. Spirit of America Management Corp NY now owns 6,500 shares of the energy company’s stock valued at $823,000 after buying an additional 500 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in IDACORP by 184.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,371 shares of the energy company’s stock worth $806,000 after acquiring an additional 4,128 shares in the last quarter. Trust Point Inc. boosted its holdings in IDACORP by 3.2% during the 4th quarter. Trust Point Inc. now owns 5,680 shares of the energy company’s stock valued at $719,000 after acquiring an additional 175 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in IDACORP in the 4th quarter valued at about $4,385,000. 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.