Analysts Set IDACORP, Inc. (NYSE:IDA) PT at $93.80

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

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

Institutional Trading of IDACORP

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of IDACORP by 1.7% in the first quarter. BlackRock Inc. now owns 6,316,570 shares of the energy company’s stock worth $684,274,000 after purchasing an additional 105,226 shares during the last quarter. Vanguard Group Inc. grew its position in shares of IDACORP by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,118,190 shares of the energy company’s stock worth $605,762,000 after buying an additional 111,296 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of IDACORP by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,031,531 shares of the energy company’s stock worth $326,951,000 after buying an additional 91,714 shares during the last quarter. State Street Corp increased its stake in shares of IDACORP by 15.2% during the first quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after buying an additional 221,072 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of IDACORP by 50.3% during the fourth quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock valued at $160,700,000 after acquiring an additional 546,818 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 1.8 %

Shares of IDA stock opened at $93.91 on Monday. The company has a market capitalization of $4.76 billion, a PE ratio of 18.27 and a beta of 0.56. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.96. The business’s fifty day moving average is $90.25 and its 200 day moving average is $94.04. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58.

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

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.