Fintel reports that on September 19, 2024, Jefferies initiated coverage of IDACORP (NYSE:IDA) with a Hold recommendation.
Analyst Price Forecast Suggests 5.38% Upside
As of August 26, 2024, the average one-year price target for IDACORP is $107.95/share. The forecasts range from a low of $98.98 to a high of $120.75. The average price target represents an increase of 5.38% from its latest reported closing price of $102.44 / share.
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The projected annual revenue for IDACORP is 1,544MM, a decrease of 15.30%. The projected annual non-GAAP EPS is 5.51.
What is the Fund Sentiment?
There are 832 funds or institutions reporting positions in IDACORP. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to IDA is 0.21%, an increase of 0.86%. Total shares owned by institutions increased in the last three months by 4.33% to 54,425K shares. 
The put/call ratio of IDA is 59.09, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 2,030K shares representing 3.81% ownership of the company. In its prior filing, the firm reported owning 2,206K shares , representing a decrease of 8.67%. The firm decreased its portfolio allocation in IDA by 86.90% over the last quarter.
T. Rowe Price Investment Management holds 1,649K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 2,054K shares , representing a decrease of 24.57%. The firm decreased its portfolio allocation in IDA by 16.96% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,595K shares representing 3.00% ownership of the company. In its prior filing, the firm reported owning 1,584K shares , representing an increase of 0.73%. The firm decreased its portfolio allocation in IDA by 1.77% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,577K shares representing 2.96% ownership of the company. In its prior filing, the firm reported owning 1,576K shares , representing an increase of 0.07%. The firm increased its portfolio allocation in IDA by 2.72% over the last quarter.
Victory Capital Management holds 1,446K shares representing 2.72% ownership of the company. In its prior filing, the firm reported owning 1,422K shares , representing an increase of 1.65%. The firm decreased its portfolio allocation in IDA by 33.00% over the last quarter.
Idacorp Background Information
(This description is provided by the company.)
IDACORP, Inc., Boise, Idaho-based and formed in 1998, is a holding company comprised of Idaho Power Company, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978. Idaho Power began operations in 1916 and employs approximately 2,000 people to serve a 24,000 square-mile service area in southern Idaho and eastern Oregon. Idaho Power's goal of 100% clean energy by 2045 builds on its long history as a clean-energy leader providing reliable service at affordable prices. With 17 low-cost hydropower projects at the core of its diverse energy mix, Idaho Power's more than 570,000 residential, business, and agricultural customers pay among the nation's lowest prices for electricity.
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