Brokerages Set IDACORP, Inc. (NYSE:IDA) Target Price at $93.80

Shares of IDACORP, Inc. (NYSE:IDA) have received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $93.80.

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

Institutional Trading of IDACORP

A number of institutional investors have recently made changes to their positions in the stock. LPL Financial LLC lifted its stake in shares of IDACORP by 0.6% in the 2nd quarter. LPL Financial LLC now owns 15,675 shares of the energy company’s stock worth $1,660,000 after purchasing an additional 100 shares during the period. Cohen & Steers Inc. raised its stake in IDACORP by 33.8% during the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after acquiring an additional 101 shares during the period. State of Wyoming raised its stake in IDACORP by 34.4% during the 2nd 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 period. EverSource Wealth Advisors LLC raised its stake in IDACORP by 19.4% during the 4th 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 worth $1,325,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 1.4 %

NYSE:IDA opened at $90.37 on Monday. The company has a fifty day moving average of $90.08 and a 200 day moving average of $94.02. IDACORP has a 52 week low of $86.43 and a 52 week high of $112.96. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.58 billion, a P/E ratio of 17.58 and a beta of 0.56.

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