IDACORP (NYSE:IDA - Get Free Report) had its target price raised by research analysts at Morgan Stanley from $110.00 to $121.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the energy company's stock. Morgan Stanley's price objective would suggest a potential upside of 7.72% from the company's previous close.
IDA has been the topic of a number of other reports. StockNews.com cut IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Mizuho raised IDACORP from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America raised shares of IDACORP from a "neutral" rating to a "buy" rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a "hold" rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $111.00.
Check Out Our Latest Research Report on IDACORP
NYSE IDA traded down $0.83 on Friday, reaching $112.33. The company's stock had a trading volume of 17,626 shares, compared to its average volume of 345,390. IDACORP has a twelve month low of $86.43 and a twelve month high of $120.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm's 50 day moving average is $110.41 and its two-hundred day moving average is $102.30. The stock has a market cap of $5.98 billion, a PE ratio of 20.84, a PEG ratio of 2.51 and a beta of 0.64.
IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the company earned $2.07 earnings per share. As a group, sell-side analysts predict that IDACORP will post 5.41 EPS for the current year.
Several institutional investors have recently bought and sold shares of IDA. Retirement Systems of Alabama lifted its holdings in shares of IDACORP by 1.5% during the third quarter. Retirement Systems of Alabama now owns 145,791 shares of the energy company's stock worth $15,030,000 after buying an additional 2,120 shares during the last quarter. Tidal Investments LLC raised its stake in IDACORP by 40.3% during the 3rd quarter. Tidal Investments LLC now owns 15,341 shares of the energy company's stock valued at $1,582,000 after purchasing an additional 4,409 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in IDACORP in the 3rd quarter valued at $53,000. Sanctuary Advisors LLC grew its position in IDACORP by 46.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 9,178 shares of the energy company's stock worth $946,000 after purchasing an additional 2,930 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock worth $97,981,000 after purchasing an additional 36,063 shares during the period. Institutional investors own 89.10% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider IDACORP, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDACORP wasn't on the list.
While IDACORP currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.