IdaCorp Inc. (IDA) Now Covered by Analysts at Williams Capital
Equities researchers at Williams Capital initiated coverage on shares of IdaCorp Inc. (NYSE:IDA) in a research note issued on Tuesday. The brokerage set a “hold” rating and a $75.00 price target on the stock. Williams Capital’s target price points to a potential downside of 0.28% from the company’s previous close.
IdaCorp (NYSE:IDA) opened at 75.21 on Tuesday. The firm’s 50-day moving average is $76.83 and its 200 day moving average is $76.18. IdaCorp has a 52-week low of $64.17 and a 52-week high of $83.40. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 20.22 and a beta of 0.50.
IdaCorp (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.99 by $0.13. IdaCorp had a net margin of 14.97% and a return on equity of 9.05%. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that IdaCorp will post $3.89 EPS for the current fiscal year.
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In related news, insider Rex Blackburn sold 3,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were 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 directly owns 27,456 shares in the company, valued at approximately $2,238,487.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Lamont Keen sold 4,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $78.54, for a total transaction of $314,160.00. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of IDA. Sei Investments Co. boosted its position in IdaCorp by 164.2% in the second quarter. Sei Investments Co. now owns 1,387 shares of the company’s stock valued at $112,000 after buying an additional 862 shares in the last quarter. Creative Planning boosted its position in IdaCorp by 0.9% in the third quarter. Creative Planning now owns 1,746 shares of the company’s stock valued at $137,000 after buying an additional 15 shares in the last quarter. State of Alaska Department of Revenue boosted its position in IdaCorp by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 1,880 shares of the company’s stock valued at $152,000 after buying an additional 105 shares in the last quarter. IFP Advisors Inc boosted its position in IdaCorp by 3.6% in the second quarter. IFP Advisors Inc now owns 1,911 shares of the company’s stock valued at $155,000 after buying an additional 67 shares in the last quarter. Finally, World Asset Management Inc purchased a new position in IdaCorp during the second quarter valued at about $200,000. 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.
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