Morgan Stanley Issues Positive Forecast for IDACORP (NYSE:IDA) Stock Price

IDACORP (NYSE:IDA - Free Report) had its price objective lifted by Morgan Stanley from $110.00 to $121.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the energy company's stock.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company upped their price objective on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $102.00 to $116.00 in a report on Friday, November 1st. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group started coverage on IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, IDACORP presently has a consensus rating of "Hold" and an average target price of $111.00.

IDACORP Stock Down 0.1 %

Shares of IDA stock traded down $0.10 on Friday, hitting $113.06. The company's stock had a trading volume of 320,510 shares, compared to its average volume of 346,690. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.51 and a beta of 0.64. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. 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 firm's fifty day moving average price is $110.64 and its 200-day moving average price is $102.42.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the business earned $2.07 earnings per share. Research analysts anticipate that IDACORP will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were issued a $0.86 dividend. This is a boost from IDACORP's previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, November 5th. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDA. Legacy Investment Solutions LLC bought a new stake in IDACORP during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in IDACORP in the 3rd quarter worth $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP during the 2nd quarter worth approximately $35,000. Avior Wealth Management LLC boosted its position in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock worth $46,000 after purchasing an additional 117 shares during the period. Finally, Eastern Bank acquired a new position in shares of IDACORP in the third quarter worth $52,000. Hedge funds and other 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.