IDACORP (NYSE:IDA) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of IDACORP (NYSE:IDA) in a research report issued on Friday, Marketbeat reports. The brokerage set a “hold” rating and a $110.00 price target on the energy company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 7.39% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Bank of America initiated coverage on shares of IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price on the stock. Wells Fargo & Company increased their price objective on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley raised their price objective on IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.71.

IDACORP Trading Down 1.0 %

NYSE:IDA opened at $102.43 on Friday. The stock has a fifty day simple moving average of $100.51 and a 200 day simple moving average of $95.61. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 20.57 and a beta of 0.60. IDACORP has a 1-year low of $86.43 and a 1-year high of $105.24. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. The company 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 earnings per share. Sell-side analysts forecast that IDACORP will post 5.41 earnings per share for the current year.

Institutional Investors Weigh In On IDACORP

Large investors have recently made changes to their positions in the company. Rise Advisors LLC lifted its stake 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 acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the 2nd quarter valued at $35,000. Mather Group LLC. bought a new stake in IDACORP in the first quarter worth $41,000. Kapitalo Investimentos Ltda acquired a new position in IDACORP during the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC increased its position in IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after buying an additional 112 shares during the last quarter. Institutional investors 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.