IDACORP (NYSE:IDA) Price Target Lowered to $150.00 at Jefferies Financial Group

IDACORP (NYSE:IDA) had its price target decreased by Jefferies Financial Group from $152.00 to $150.00 in a report published on Wednesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the energy company’s stock.

A number of other research analysts also recently weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $146.00 price target on shares of IDACORP in a research note on Wednesday, January 21st. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. UBS Group dropped their price target on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company downgraded shares of IDACORP from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. Finally, BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and an average price target of $137.89.

IDACORP Stock Performance

Shares of IDA opened at $132.36 on Wednesday. The firm has a fifty day simple moving average of $128.81 and a 200 day simple moving average of $128.11. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. IDACORP has a 12 month low of $108.15 and a 12 month high of $138.03. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 2.61 and a beta of 0.61.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. During the same period in the prior year, the business posted $2.12 EPS. Research analysts forecast that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

Hedge Funds Weigh In On IDACORP

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its holdings in IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of IDACORP in the third quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new position in shares of IDACORP during the second quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of IDACORP during the third quarter worth about $34,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of IDACORP in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.