IDACORP (NYSE:IDA) Price Target Increased to $98.00 by Analysts at Wells Fargo & Company

IDACORP (NYSE:IDA - Get Free Report) had its price target upped by Wells Fargo & Company from $94.00 to $98.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the energy company's stock. Wells Fargo & Company's target price indicates a potential upside of 1.85% from the company's current price.

Several other analysts have also commented on IDA. Morgan Stanley lifted their price objective on IDACORP from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, March 21st. StockNews.com raised shares of IDACORP to a "sell" rating in a research report on Friday, April 26th. TheStreet downgraded shares of IDACORP from a "b-" rating to a "c+" rating in a research note on Thursday, February 15th. Mizuho cut their price objective on shares of IDACORP from $99.00 to $88.00 and set a "neutral" rating on the stock in a report on Tuesday, March 5th. Finally, Guggenheim lowered IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 target price for the company. in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $94.60.

IDACORP Stock Up 0.9 %

Shares of IDA traded up $0.87 on Friday, reaching $96.22. The stock had a trading volume of 480,824 shares, compared to its average volume of 377,940. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 18.72 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The company has a 50-day simple moving average of $91.33 and a 200-day simple moving average of $93.99. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.64.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). The business had revenue of $448.94 million during the quarter, compared to the consensus estimate of $441.21 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period last year, the company posted $1.11 earnings per share. Sell-side analysts predict that IDACORP will post 5.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IDA. Commonwealth Equity Services LLC raised its position in IDACORP by 0.8% during the third quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company's stock valued at $1,436,000 after acquiring an additional 129 shares in the last quarter. Raymond James & Associates increased its position in shares of IDACORP by 20.9% in the third quarter. Raymond James & Associates now owns 385,346 shares of the energy company's stock valued at $36,088,000 after buying an additional 66,647 shares in the last quarter. Buffington Mohr McNeal increased its position in shares of IDACORP by 3.8% in the third quarter. Buffington Mohr McNeal now owns 5,722 shares of the energy company's stock valued at $536,000 after buying an additional 210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of IDACORP by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,978 shares of the energy company's stock valued at $747,000 after buying an additional 1,355 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of IDACORP by 7.8% in the third quarter. IFM Investors Pty Ltd now owns 6,781 shares of the energy company's stock valued at $635,000 after buying an additional 492 shares in the last quarter. 89.10% of the stock is currently 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.

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