IDACORP (NYSE:IDA) PT Raised to $102.00

IDACORP (NYSE:IDA) had its price objective boosted by equities researchers at Morgan Stanley from $94.00 to $102.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the energy company’s stock.

Several other equities analysts have also commented on the company. StockNews.com raised IDACORP to a “sell” rating in a report on Friday, April 26th. Mizuho boosted their price objective on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, Wells Fargo & Company lifted their target price on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average price target of $99.80.

IDACORP Stock Down 0.2 %

Shares of NYSE:IDA opened at $102.00 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $96.60 and a two-hundred day moving average of $93.80. IDACORP has a 52-week low of $86.43 and a 52-week high of $104.43. The stock has a market cap of $5.43 billion, a P/E ratio of 20.48 and a beta of 0.58.

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 the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.38%. During the same quarter last year, the firm earned $1.35 EPS. On average, research analysts expect that IDACORP will post 5.37 earnings per share for the current year.

Hedge Funds Weigh In On IDACORP

A number of institutional investors have recently modified their holdings of IDA. Wellington Management Group LLP grew its stake in IDACORP by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after acquiring an additional 546,818 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of IDACORP by 1.7% during the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock worth $134,694,000 after purchasing an additional 23,925 shares during the last quarter. Nuance Investments LLC grew its position in shares of IDACORP by 19.0% in the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after purchasing an additional 178,294 shares during the period. First Trust Advisors LP grew its position in shares of IDACORP by 0.9% in the fourth quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock valued at $74,883,000 after purchasing an additional 7,008 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in IDACORP by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock valued at $64,583,000 after purchasing an additional 47,527 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.