IDACORP (NYSE:IDA) Stock Rating Upgraded by Wall Street Zen

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

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

IDACORP Stock Performance

Shares of IDACORP stock traded up $1.25 during trading hours on Friday, reaching $120.18. The company had a trading volume of 465,282 shares, compared to its average volume of 373,484. The firm has a market cap of $6.49 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. IDACORP has a one year low of $94.36 and a one year high of $120.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44. The business has a fifty day simple moving average of $115.64 and a 200 day simple moving average of $114.30.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same period last year, the firm earned $0.95 EPS. On average, analysts anticipate that IDACORP will post 5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDACORP

A number of institutional investors have recently modified their holdings of IDA. Elite Financial Inc. purchased a new position in IDACORP in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of IDACORP by 621.6% in 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. Opal Wealth Advisors LLC purchased a new position in shares of IDACORP in the first quarter worth $34,000. Proficio Capital Partners LLC bought a new position in shares of IDACORP during the fourth quarter valued at $45,000. Finally, Farther Finance Advisors LLC boosted its position in shares of IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after buying an additional 378 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other 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.