IDACORP (NYSE:IDA) Given New $131.00 Price Target at Morgan Stanley

IDACORP (NYSE:IDA - Free Report) had its price objective raised by Morgan Stanley from $126.00 to $131.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the energy company's stock.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Jefferies Financial Group decreased their price objective on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Finally, Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, IDACORP presently has a consensus rating of "Hold" and a consensus price target of $120.50.

IDACORP Stock Down 0.0 %

Shares of NYSE:IDA traded down $0.04 during trading on Thursday, hitting $114.20. The stock had a trading volume of 296,325 shares, compared to its average volume of 315,570. The company has a market capitalization of $6.16 billion, a PE ratio of 20.84, a PEG ratio of 2.32 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm's fifty day moving average is $112.40 and its 200 day moving average is $109.95. IDACORP has a 12 month low of $88.70 and a 12 month high of $120.42.

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IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Analysts anticipate that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is presently 62.77%.

Institutional Trading of IDACORP

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock worth $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP increased its stake in shares of IDACORP by 43.3% in the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after purchasing an additional 1,035,133 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after acquiring an additional 166,864 shares in the last quarter. State Street Corp raised its holdings in IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock valued at $170,789,000 after acquiring an additional 86,642 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of IDACORP by 2.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock valued at $150,742,000 after buying an additional 29,094 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

About IDACORP

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.