IDACORP, Inc. (NYSE:IDA) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• IDACORP, Inc. has received a consensus rating of "Moderate Buy" from analysts, with three holding and five buying ratings.
• The average 12-month price target for IDACORP shares among brokerages is $123.29, with Morgan Stanley recently reducing its target from $133.00 to $131.00.
• Institutional investors own approximately 89.10% of IDACORP's stock, reflecting significant interest from hedge funds in the company.

IDACORP, Inc. (NYSE:IDA - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $123.2857.

Several research firms recently commented on IDA. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley reduced their price target on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. UBS Group reiterated a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of IDACORP in a research report on Wednesday, October 8th.

Institutional Trading of IDACORP

Several hedge funds have recently made changes to their positions in IDA. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the 2nd quarter worth $28,000. Elite Financial Inc. acquired a new stake in shares of IDACORP in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after acquiring an additional 230 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of IDACORP in the 2nd quarter worth $31,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company's stock worth $36,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Down 0.3%

Shares of IDACORP stock opened at $135.65 on Friday. The company has a fifty day simple moving average of $128.04 and a 200-day simple moving average of $120.92. IDACORP has a 12-month low of $100.10 and a 12-month high of $137.17. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.91 and a beta of 0.56. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting the consensus estimate of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. During the same quarter in the prior year, the firm earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts forecast that IDACORP will post 5.81 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.

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