IDACORP (NYSE:IDA) Upgraded to “Outperform” at Mizuho

IDACORP (NYSE:IDA) was upgraded by Mizuho from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday, Briefing.com reports. The firm currently has a $116.00 price objective on the energy company’s stock, up from their prior price objective of $102.00. Mizuho’s target price would indicate a potential upside of 12.10% from the company’s current price.

Several other brokerages also recently issued reports on IDA. Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. Morgan Stanley raised their target price on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America started coverage on shares of IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price for the company. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average target price of $107.67.

IDACORP Stock Up 1.3 %

Shares of NYSE:IDA opened at $103.48 on Friday. IDACORP has a 52 week low of $86.43 and a 52 week high of $105.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The company has a market capitalization of $5.51 billion, a PE ratio of 19.38, a PEG ratio of 3.43 and a beta of 0.60. The company has a 50 day moving average price of $102.81 and a two-hundred day moving average price of $98.11.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The company had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the prior year, the firm earned $1.35 earnings per share. Analysts forecast that IDACORP will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On IDACORP

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in IDACORP during the 3rd quarter worth $26,000. Rise Advisors LLC boosted its holdings in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the 2nd quarter valued at $35,000. Eastern Bank acquired a new stake in shares of IDACORP in the 3rd quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of IDACORP in the 2nd quarter valued at $71,000. Institutional investors 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.