IDACORP (NYSE:IDA) Upgraded by Mizuho to Outperform Rating

IDACORP (NYSE:IDA - Get Free Report) was upgraded by equities research analysts at Mizuho from a "neutral" rating to an "outperform" rating in a note issued to investors on Friday, MarketBeat reports. The firm presently has a $116.00 price target on the energy company's stock, up from their previous price target of $102.00. Mizuho's price target would indicate a potential upside of 9.58% from the company's current price.

IDA has been the subject of a number of other research reports. Wells Fargo & Company increased their price target on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday. Bank of America began coverage on shares of IDACORP in a research note on Thursday, September 12th. They issued a "neutral" rating and a $110.00 price objective for the company. Morgan Stanley boosted their target price on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on IDACORP in a research report on Friday, September 20th. They issued a "hold" rating and a $110.00 target price for the company. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $107.67.

IDACORP Price Performance

NYSE IDA traded up $2.38 on Friday, reaching $105.86. 1,243,633 shares of the stock traded hands, compared to its average volume of 342,061. IDACORP has a 12 month low of $86.43 and a 12 month high of $109.47. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.43 and a beta of 0.60. The firm's fifty day simple moving average is $102.81 and its 200 day simple moving average is $98.11. 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 - Get Free Report) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period in the previous year, the firm earned $2.07 earnings per share. As a group, research analysts predict that IDACORP will post 5.39 EPS for the current fiscal year.

Institutional Trading of IDACORP

Several hedge funds and other institutional investors have recently bought and sold shares of IDA. Allspring Global Investments Holdings LLC grew its position in IDACORP by 59.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 391,388 shares of the energy company's stock valued at $36,356,000 after purchasing an additional 145,316 shares during the period. State of Michigan Retirement System lifted its stake in shares of IDACORP by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,420 shares of the energy company's stock valued at $1,154,000 after purchasing an additional 300 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of IDACORP by 13.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,210 shares of the energy company's stock worth $298,000 after buying an additional 390 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in IDACORP by 6.6% in the first quarter. Commonwealth Equity Services LLC now owns 19,127 shares of the energy company's stock valued at $1,777,000 after purchasing an additional 1,185 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in IDACORP by 42.4% during the 1st quarter. BNP Paribas Financial Markets now owns 11,635 shares of the energy company's stock valued at $1,081,000 after acquiring an additional 3,464 shares during the period. 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.