IDACORP (NYSE:IDA) Rating Increased to Hold at Wall Street Zen

IDACORP (NYSE:IDA - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the company. Morgan Stanley set a $128.00 price objective on IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim upped their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, IDACORP presently has an average rating of "Moderate Buy" and an average price target of $122.86.

IDACORP Stock Up 1.7%

IDA traded up $2.02 on Friday, hitting $123.24. 168,415 shares of the company were exchanged, compared to its average volume of 414,601. IDACORP has a 12 month low of $94.51 and a 12 month high of $123.63. The company has a market cap of $6.66 billion, a PE ratio of 21.89, a PEG ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81. The stock's fifty day moving average is $115.64 and its 200-day moving average is $114.34.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. The business had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities research analysts predict that IDACORP will post 5.81 EPS for the current fiscal year.

Institutional Investors Weigh In On IDACORP

Large investors have recently added to or reduced their stakes in the stock. Elite Financial Inc. acquired a new stake in IDACORP during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its stake in 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 purchasing an additional 230 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in IDACORP during the second quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in IDACORP during the first quarter worth $34,000. Finally, Riverview Trust Co bought a new stake in IDACORP during the second quarter worth $42,000. Institutional investors and hedge funds 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.