IDACORP (NYSE:IDA) Raised to Hold at Wall Street Zen

IDACORP (NYSE:IDA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms also recently commented on IDA. Morgan Stanley decreased their target price on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Barclays began coverage on IDACORP in a report on Wednesday, January 14th. They set an “overweight” rating and a $144.00 target price on the stock. Mizuho upped their price target on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, UBS Group lowered their price objective on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and an average target price of $137.67.

IDACORP Trading Up 2.1%

Shares of NYSE IDA opened at $144.33 on Friday. The business has a 50 day simple moving average of $130.48 and a 200 day simple moving average of $129.32. IDACORP has a 52 week low of $108.15 and a 52 week high of $145.30. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.75 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09.

Hedge Funds Weigh In On IDACORP

Several large investors have recently made changes to their positions in IDA. Morgan Stanley grew its holdings in IDACORP by 9.9% in the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after buying an additional 188,845 shares during the last quarter. State Street Corp boosted its position in shares of IDACORP by 0.6% in the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after acquiring an additional 11,403 shares during the period. Reaves W H & Co. Inc. grew its stake in shares of IDACORP by 6.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after acquiring an additional 107,131 shares during the last quarter. Jennison Associates LLC increased its position in IDACORP by 8.3% during the fourth quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after acquiring an additional 113,579 shares during the period. Finally, Alliancebernstein L.P. raised its stake in IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after purchasing an additional 13,283 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

About IDACORP

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.