IDACORP (NYSE:IDA - Get Free Report) was upgraded by equities researchers at Guggenheim from a "neutral" rating to a "buy" rating in a research report issued on Thursday, Marketbeat Ratings reports.
Other analysts have also recently issued reports about the company. Morgan Stanley lifted their price target on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Wells Fargo & Company lifted their target price on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Mizuho upgraded shares of IDACORP from a "neutral" rating to an "outperform" rating and upped their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded IDACORP from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $114.60.
Get Our Latest Research Report on IDA
IDACORP Stock Up 0.9 %
IDA stock traded up $0.95 during mid-day trading on Thursday, reaching $108.65. The company had a trading volume of 283,079 shares, compared to its average volume of 294,556. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a 50 day simple moving average of $112.55 and a two-hundred day simple moving average of $105.80.
IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). The firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, equities analysts predict that IDACORP will post 5.41 earnings per share for the current fiscal year.
Institutional Trading of IDACORP
A number of institutional investors have recently bought and sold shares of IDA. M&T Bank Corp grew its holdings in shares of IDACORP by 0.8% during the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock valued at $1,133,000 after buying an additional 92 shares during the last quarter. Trust Point Inc. lifted its position in IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company's stock valued at $760,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. boosted its stake in IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company's stock valued at $157,000 after purchasing an additional 106 shares during the last quarter. Pitcairn Co. increased its holdings in IDACORP by 2.3% during the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock worth $495,000 after purchasing an additional 107 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of IDACORP by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 89.10% of the company's stock.
IDACORP Company Profile
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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.
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