IDACORP (NYSE:IDA) Upgraded at Mizuho

IDACORP (NYSE:IDA) was upgraded by investment analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Briefing.com reports. The firm presently has a $116.00 price objective on the energy company’s stock, up from their prior price objective of $102.00. Mizuho’s price target suggests a potential upside of 12.10% from the stock’s current price.

A number of other research firms have also recently weighed in on IDA. Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. Wells Fargo & Company upped their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of IDACORP in a research note on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price on the stock. Morgan Stanley upped their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.67.

IDACORP Stock Up 1.3 %

IDACORP stock opened at $103.48 on Friday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $105.25. The firm has a fifty day moving average price of $102.81 and a two-hundred day moving average price of $98.11.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million for 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 quarter in the previous year, the firm posted $1.35 earnings per share. As a group, analysts forecast that IDACORP will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On IDACORP

A number of large investors have recently modified their holdings of IDA. V Square Quantitative Management LLC acquired a new position in IDACORP in the third quarter valued at approximately $26,000. Rise Advisors LLC lifted its holdings in IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in IDACORP in the second quarter valued at approximately $35,000. Eastern Bank acquired a new position in IDACORP in the third quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in IDACORP in the second quarter valued at approximately $71,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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.