IDACORP (NYSE:IDA) Earns "Buy (B)" Rating from Weiss Ratings

Key Points

• IDACORP's stock has been reissued a "Buy (B)" rating by Weiss Ratings, indicating a positive outlook from investment analysts.
• The company has a consensus rating of "Moderate Buy" with a price target of $123.29, according to MarketBeat data.
• IDACORP reported earnings of $1.76 per share for the last quarter, matching analysts' expectations, with a revenue of $531.10 million surpassing estimates.

IDACORP (NYSE:IDA - Get Free Report)'s stock had its "buy (b)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the stock. UBS Group restated a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Morgan Stanley cut their price target on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.29.

IDACORP Trading Up 0.9%

Shares of IDA stock opened at $134.94 on Wednesday. The firm has a market cap of $7.29 billion, a P/E ratio of 23.76, a PEG ratio of 2.86 and a beta of 0.56. IDACORP has a 1-year low of $99.81 and a 1-year high of $135.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The firm's 50-day simple moving average is $126.87 and its 200-day simple moving average is $120.07.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting the consensus estimate of $1.76. The business had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same period in the prior year, the firm posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts forecast that IDACORP will post 5.81 EPS for the current year.

Institutional Trading of IDACORP

Hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP during the second quarter valued at approximately $28,000. Elite Financial Inc. acquired a new stake in shares of IDACORP during the first quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of IDACORP during the second quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its position in shares of IDACORP by 621.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after buying an additional 230 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of IDACORP during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

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.

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