IDACORP (NYSE:IDA) Price Target Raised to $122.00 at UBS Group

IDACORP (NYSE:IDA - Get Free Report) had its price objective raised by investment analysts at UBS Group from $117.00 to $122.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the energy company's stock. UBS Group's price target would indicate a potential upside of 6.90% from the company's current price.

A number of other equities analysts also recently commented on IDA. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Morgan Stanley increased their target price on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. One investment 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $120.50.

IDACORP Stock Down 0.1 %

Shares of NYSE:IDA traded down $0.12 during trading on Friday, hitting $114.13. 100,379 shares of the company were exchanged, compared to its average volume of 304,821. The firm's 50 day moving average price is $112.22 and its 200-day moving average price is $109.88. IDACORP has a 12-month low of $88.70 and a 12-month 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 stock has a market capitalization of $6.16 billion, a P/E ratio of 20.82, a PEG ratio of 2.32 and a beta of 0.59.

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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 analysts' consensus estimates of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. On average, research analysts predict that IDACORP will post 5.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDA. MassMutual Private Wealth & Trust FSB increased its holdings in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the third quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after buying an additional 117 shares in the last quarter. 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.