IDACORP (NYSE:IDA) Raised to Buy at Guggenheim

IDACORP (NYSE:IDA) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday,Finviz reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley boosted their price objective on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus price target of $114.60.

IDACORP Stock Down 3.6 %

NYSE:IDA opened at $107.74 on Thursday. The firm has a market capitalization of $5.74 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. The stock has a 50 day moving average of $112.55 and a 200-day moving average of $105.80. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Analysts predict that IDACORP will post 5.41 EPS for the current year.

Institutional Investors Weigh In On IDACORP

A number of institutional investors and hedge funds have recently modified their holdings of IDA. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP during the 3rd quarter valued at $26,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the last quarter. 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.