IdaCorp Inc. (IDA) Earns Hold Rating from Analysts at Williams Capital
Research analysts at Williams Capital began coverage on shares of IdaCorp Inc. (NYSE:IDA) in a note issued to investors on Tuesday. The brokerage set a “hold” rating and a $75.00 price target on the stock. Williams Capital’s price objective suggests a potential downside of 1.04% from the company’s previous close.
Shares of IdaCorp (NYSE:IDA) traded up 0.77% during mid-day trading on Tuesday, hitting $75.79. 194,011 shares of the company were exchanged. IdaCorp has a 12-month low of $64.17 and a 12-month high of $83.40. The stock’s 50-day moving average price is $76.82 and its 200 day moving average price is $76.18. The stock has a market cap of $3.82 billion, a PE ratio of 20.37 and a beta of 0.50.
IdaCorp (NYSE:IDA) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.13. IdaCorp had a return on equity of 9.05% and a net margin of 14.97%. During the same period in the prior year, the company earned $1.31 EPS. On average, equities analysts anticipate that IdaCorp will post $3.89 EPS for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/idacorp-inc-ida-earns-hold-rating-from-analysts-at-williams-capital.html
In related news, SVP Jeffrey L. Malmen sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $80.81, for a total value of $121,215.00. Following the transaction, the senior vice president now owns 14,282 shares in the company, valued at $1,154,128.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rex Blackburn sold 3,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now owns 27,456 shares in the company, valued at approximately $2,238,487.68. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. increased its position in IdaCorp by 3.5% in the first quarter. Teachers Advisors Inc. now owns 75,205 shares of the company’s stock worth $5,610,000 after buying an additional 2,553 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of IdaCorp by 16.3% in the first quarter. BlackRock Group LTD now owns 81,743 shares of the company’s stock worth $6,096,000 after buying an additional 11,452 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of IdaCorp by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,522,364 shares of the company’s stock worth $113,553,000 after buying an additional 49,842 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of IdaCorp by 21.6% in the first quarter. JPMorgan Chase & Co. now owns 319,337 shares of the company’s stock worth $23,819,000 after buying an additional 56,779 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of IdaCorp by 1.1% in the first quarter. State Street Corp now owns 1,723,239 shares of the company’s stock worth $128,541,000 after buying an additional 18,875 shares during the last quarter. Hedge funds and other institutional investors own 74.27% of the company’s stock.
IDACORP, Inc is a holding company. The Company’s operating subsidiary is Idaho Power Company (Idaho Power), which is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity. Its segments are utility operations and all other. The utility operations segment consists of the regulated operations of Idaho Power, which include the generation, transmission, distribution, purchase and sale of electricity, and Idaho Energy Resources Co (IERCo), a subsidiary of Idaho Power and a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant owned in part by Idaho Power.
Receive News & Ratings for IdaCorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IdaCorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.