IDACORP (NYSE:IDA) Upgraded by Wall Street Zen to “Hold” Rating

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

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group dropped their price target on IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. BTIG Research reaffirmed a “buy” rating and set a $156.00 target price on shares of IDACORP in a research report on Friday, January 30th. UBS Group decreased their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Finally, Morgan Stanley reduced their price objective on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.67.

IDACORP Stock Up 2.1%

NYSE IDA opened at $144.33 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The company’s 50 day simple moving average is $130.48 and its 200 day simple moving average is $129.32. IDACORP has a 12 month low of $108.15 and a 12 month high of $145.30. The company has a market capitalization of $7.80 billion, a P/E ratio of 24.80, a PEG ratio of 2.75 and a beta of 0.59.

Institutional Trading of IDACORP

Hedge funds have recently made changes to their positions in the stock. AMG National Trust Bank grew its position in IDACORP by 0.7% during the third quarter. AMG National Trust Bank now owns 11,665 shares of the energy company’s stock valued at $1,542,000 after purchasing an additional 80 shares in the last quarter. Assetmark Inc. boosted its stake in shares of IDACORP by 7.6% during the 3rd quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock valued at $149,000 after buying an additional 80 shares during the period. AssuredPartners Investment Advisors LLC boosted its stake in shares of IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock valued at $209,000 after buying an additional 80 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of IDACORP by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock worth $53,000 after acquiring an additional 97 shares during the last quarter. 89.10% of the stock is 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.