IDACORP (NYSE:IDA) PT Raised to $109.00

IDACORP (NYSE:IDA) had its price objective raised by Wells Fargo & Company from $106.00 to $109.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the energy company’s stock.

Several other equities research analysts have also issued reports on IDA. Morgan Stanley raised their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Finally, Bank of America began coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.00.

IDACORP Trading Up 0.8 %

IDA stock opened at $104.46 on Wednesday. The firm has a fifty day moving average price of $102.48 and a 200 day moving average price of $97.28. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $105.24. The firm has a market cap of $5.56 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same period last year, the company posted $1.35 EPS. Sell-side analysts anticipate that IDACORP will post 5.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IDA. Pitcairn Co. boosted its position in IDACORP by 2.4% in the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after buying an additional 103 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of IDACORP by 1.7% in the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after purchasing an additional 107 shares during the period. Fortem Financial Group LLC boosted its holdings in shares of IDACORP by 1.2% in the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after purchasing an additional 112 shares during the period. EverSource Wealth Advisors LLC grew its stake in IDACORP by 18.3% in the first quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock worth $77,000 after purchasing an additional 126 shares in the last quarter. Finally, Rise Advisors LLC raised its position in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.