Jefferies Financial Group Issues Pessimistic Forecast for IDACORP (NYSE:IDA) Stock Price

IDACORP (NYSE:IDA) had its price target dropped by equities researchers at Jefferies Financial Group from $152.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 13.16% from the stock’s current price.

Several other analysts have also recently weighed in on the company. UBS Group dropped their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Barclays initiated coverage on IDACORP in a report on Wednesday, January 14th. They set an “overweight” rating and a $144.00 target price for the company. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Company lowered shares of IDACORP from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.89.

IDACORP Stock Performance

IDA stock traded down $1.61 during trading hours on Wednesday, reaching $132.55. The stock had a trading volume of 196,746 shares, compared to its average volume of 442,118. The stock has a 50-day simple moving average of $128.68 and a 200 day simple moving average of $128.08. IDACORP has a fifty-two week low of $108.15 and a fifty-two week high of $138.03. The stock has a market capitalization of $7.16 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.The company had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. During the same period in the previous year, the company posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Analysts predict that IDACORP will post 5.81 EPS for the current fiscal year.

Institutional Trading of IDACORP

A number of institutional investors have recently bought and sold shares of IDA. Jennison Associates LLC increased its holdings in IDACORP by 115.3% in the second quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock worth $152,816,000 after purchasing an additional 708,989 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock worth $69,784,000 after buying an additional 586,221 shares during the period. Zimmer Partners LP bought a new stake in shares of IDACORP in the 3rd quarter valued at $71,031,000. Soros Fund Management LLC acquired a new position in shares of IDACORP during the 2nd quarter valued at $46,919,000. Finally, Invesco Ltd. lifted its position in shares of IDACORP by 139.4% during the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after acquiring an additional 344,622 shares during the period. Institutional investors 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.