IDACORP, Inc. (NYSE:IDA) Receives Average Recommendation of “Hold” from Analysts

IDACORP, Inc. (NYSE:IDA) has earned an average recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $93.80.

A number of brokerages have commented on IDA. Morgan Stanley boosted their target price on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Wells Fargo & Company cut their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Mizuho decreased their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd.

Hedge Funds Weigh In On IDACORP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in IDACORP by 0.6% during the 2nd quarter. LPL Financial LLC now owns 15,675 shares of the energy company’s stock valued at $1,660,000 after purchasing an additional 100 shares during the period. Cohen & Steers Inc. boosted its position in shares of IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares during the period. State of Wyoming grew its stake in shares of IDACORP by 34.4% in the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after acquiring an additional 112 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in IDACORP by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,381 shares of the energy company’s stock valued at $1,325,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE IDA opened at $93.91 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 18.27 and a beta of 0.56. The company has a 50 day simple moving average of $90.25 and a 200-day simple moving average of $94.04. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.96.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Equities research analysts predict that IDACORP will post 5.32 earnings per share for the current fiscal year.

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.