IDACORP (NYSE:IDA) PT Set at $128.00 by Morgan Stanley

IDACORP (NYSE:IDA - Get Free Report) received a $128.00 price target from equities research analysts at Morgan Stanley in a research note issued on Thursday, Marketbeat reports. The brokerage currently has an "equal weight" rating on the energy company's stock. Morgan Stanley's price objective points to a potential upside of 11.25% from the company's previous close.

IDA has been the topic of a number of other research reports. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. UBS Group increased their price objective on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Bank of America boosted their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Guggenheim increased their price target on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, IDACORP presently has an average rating of "Hold" and a consensus price target of $123.14.

IDACORP Trading Down 0.8%

Shares of IDA stock opened at $115.06 on Thursday. IDACORP has a 12 month low of $90.64 and a 12 month high of $120.84. The company has a market cap of $6.22 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The business's 50 day moving average is $115.93 and its two-hundred day moving average is $113.80.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period last year, the business posted $0.95 EPS. Equities analysts predict that IDACORP will post 5.81 EPS for the current year.

Hedge Funds Weigh In On IDACORP

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of IDACORP by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock worth $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP grew its stake in IDACORP by 3.2% in the first quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company's stock valued at $410,970,000 after purchasing an additional 111,182 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of IDACORP by 10.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock worth $245,243,000 after purchasing an additional 200,465 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of IDACORP by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company's stock worth $161,728,000 after purchasing an additional 12,156 shares in the last quarter. Finally, Reaves W H & Co. Inc. boosted its holdings in shares of IDACORP by 25.0% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after buying an additional 249,542 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

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.