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

IDACORP (NYSE:IDA) had its price target lowered by research analysts at Jefferies Financial Group from $152.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 13.47% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Monday. Mizuho lifted their target price on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Barclays initiated coverage on shares of IDACORP in a research note on Wednesday, January 14th. They set an “overweight” rating and a $144.00 price target on the stock. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $129.00 to $118.00 in a report on Tuesday, January 20th. 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.89.

IDACORP Price Performance

Shares of NYSE:IDA opened at $132.19 on Wednesday. IDACORP has a one year low of $108.15 and a one year high of $138.03. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.57 and a beta of 0.61. The company has a 50-day simple moving average of $128.92 and a 200-day simple moving average of $128.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same quarter last year, the company posted $2.12 earnings per share. On average, analysts predict that IDACORP will post 5.81 EPS for the current year.

Institutional Trading of IDACORP

A number of institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of IDACORP by 79.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after buying an additional 2,625 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in IDACORP by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after acquiring an additional 21,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in IDACORP by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock valued at $16,698,000 after acquiring an additional 10,855 shares in the last quarter. GAMMA Investing LLC raised its position in IDACORP by 13.4% during the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after acquiring an additional 99 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in IDACORP by 1.8% during the second quarter. Public Employees Retirement System of Ohio now owns 18,694 shares of the energy company’s stock worth $2,158,000 after acquiring an additional 328 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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.