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Idacorp

Idacorp Inc is a holding company that, through its subsidiaries, acts as an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity. To do this, Idacorp owns and operates a portfolio of hydroelectric, coal-fired, gas-fired, and diesel-fired power plants located across the Northwestern United States. The company's hydroelectric and coal-fired plants are responsible for Majority of its total energy production. Idacorp mainly generates revenue from the sale of electricity to retail and wholesale customers. The Majority of the company's customers are residential consumers living in the Northwestern United States, while commercial and industrial consumers also represent important revenue streams.

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Morgan Stanley analyst David Arcaro maintains Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Equal-Weight and raises the price target from $110 to $121.

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Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Idacorp, Raises Price Target to $121

As of Nov. 15, 2024, four stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Pure Cycle Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCYO#NASDAQ">PCYO</a>)</h3>
<ul>
<li>On Nov. 13, Pure Cycle reported a year-over-year increase in fourth-quarter financial results. &#8220;Due to the continued success of our Sky Ranch Master Planned community, we now have three phases of lot development under construction accelerating the timing of delivering our lots to home builder customers as well as lots for our single-family rental segment. As we complete final landscaping in Phase 2A, lot production accelerated deliveries in the remaining half of our fiscal year with completion of approximately 211 lots in Phase 2B and substantial progress on our overlapping production of 228 lots in Phase 2C,&#8221; commented Mark Harding, CEO of Pure Cycle. The company's stock gained around 23% over the past month and has a <a href="https://www.benzinga.com/quote/PCYO">52-week high of $13.40</a>.</li>
<li>RSI Value: 81.73&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>PCYO Price Action: Shares of Pure Cycle gained 11.6% to close at $13.04 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Pampa Energia S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAM#NYSE">PAM</a>)</h3>
<ul>
<li>On Nov. 6, the company reported quarterly earnings of $2.70 per share which beat the analyst consensus estimate of $1.90 per share. The company reported quarterly sales of $540.000 million which missed the analyst consensus estimate of $581.284 million. The company's stock gained around 16% over the past month and <a href="https://www.benzinga.com/quote/PAM">has a 52-week high</a> of $76.31.</li>
<li>RSI Value: 82.26</li>
<li>PAM Price Action: Shares of Pampa Energia gained 2.5% to close at $75.84 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Xcel Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>)</h3>
<ul>
<li>On Nov. 4, Xcel Energy announced a registered underwritten offering of 18,320,610 shares of its common stock at a public offering price of $65.50 per share. The company's stock gained around 9% over the past month and has a <a href="https://www.benzinga.com/quote/XEL">52-week high</a> of $69.53.</li>
<li>RSI Value: 71.29</li>
<li>XEL Price Action: Shares of Xcel Energy gained 0.4% to close at $68.91 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">IDACORP Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>)</h3>
<ul>
<li>On Oct. 31, Idacorp reported quarterly earnings of $2.12 per share which missed the analyst consensus estimate of $2.18 per share. The company's stock jumped around 13% over the past month and has a 52-week high is $119.65.</li>
<li>RSI Value: 73.18</li>
<li>IDA Price Action: Shares of IDACORP fell 0.5% to close at $116.74 on Thursday. </li>
</ul>
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Shares of Idacorp Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) continued on an upward trajectory in early trading on Tuesday. 
The stock climbed more than 7% over the past month.
During its third-quarter earnings call, the company raised its five-year load growth forecast in its preliminary 2025 Integrated Resource Plan (IRP), according to BofA Securities.
Analyst Ross Fowler upgraded the rating for Idacorp from Neutral to Buy. He raised the price target from $113 to $117.
The Idacorp Thesis: The company reported third-quarter adjusted earnings $2.12 per share, missing consensus of $2.17 per share, but raised its full-year guidance range from $5.30-$5.45 per share to $5.35-$5.45, per share,Fowler said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The forecasted rate base growth in IRP spiked from about 11% to around 17%. That&#8217;s "well above average broader electric peers," he added.
The five-year capex plan increased 46% in total, the analyst wrote. Over $1 billion of the increase attributable to the inclusion of new generation projects from 2026 and 2027 RFP commitments.
"Longer term, we note incremental upside to capex/rate base growth could result from new generation/transmission needs implied by the ongoing 2025 IRP and &#8217;28/&#8217;29 RFP filings, along with pending projects from large load industrial customers, which are not included in the current plan," he further stated.
This could enable Idacorp to generate above-average earnings growth of an 8% CAGR (compounded annual growth rate) through 2028, Fowler said.
Price Action: Shares of Idacorp had risen by 2.61% to $108.89 at the time of publication on Tuesday.
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Earnings Beats

Long Ideas

Upgrades

Movers

Here's How Idacorp Could Generate Above Average Earnings Growth, Says Bullish Analyst

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/628cd8d3cc072c0001f8649f/nikhil-devnani">Bernstein analyst Nikhil Devnani </a>upgraded the rating for eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) from Market Perform to Outperform and announced a $70 price target. eBay shares closed at $60.23 on Monday. <a href="https://www.benzinga.com/quote/EBAY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Ross Fowler upgraded IDACORP, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) from Neutral to Buy and raised the price target from $113 to $117. Idacorp shares closed at $106.94 on Monday. <a href="https://www.benzinga.com/quote/IDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities analyst Jamie Cook upgraded the rating for MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) from Hold to Buy and increased the price target from $133 to $173. MasTec shares closed at $132.61 on Monday. <a href="https://www.benzinga.com/quote/MTZ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e0f3e587da4190001b228c0/george-farmer">Scotiabank analyst George Farmer</a> upgraded argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) from Sector Perform to Sector Outperform and raised the price target from $439 to $715. argenx shares closed at $588.67 on Monday. <a href="https://www.benzinga.com/quote/ARGX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JMP Securities analyst Jordan Bender upgraded Century Casinos, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTY#NASDAQ">CNTY</a>) from Market Perform to Market Outperform and announced a $5 price target. Century Casinos shares closed at $3.70 on Monday. <a href="https://www.benzinga.com/quote/CNTY/analyst-ratings">See how other analysts view this stock.</a></li>
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B of A Securities analyst Ross Fowler upgrades Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) from Neutral to Buy and raises the price target from $113 to $117.

B of A Securities Upgrades Idacorp to Buy, Raises Price Target to $117

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Mizuho analyst Anthony Crowdell upgraded the rating for IDACORP, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) from Neutral to Outperform and raised the price target from $102 to $116. Idacorp shares closed at $103.48 on Thursday. <a href="https://www.benzinga.com/quote/IDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Myles Minter upgraded argenx SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARGX#NASDAQ">ARGX</a>) from Market Perform to Outperform. argenx shares closed at $586.30 on Thursday. <a href="https://www.benzinga.com/quote/ARGX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc analyst Jason Celino upgraded Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) from Sector Weight to Overweight and announced a $260 price target. Atlassian shares closed at $188.54 on Thursday. <a href="https://www.benzinga.com/quote/TEAM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Paul Zimbardo upgraded the rating for Xcel Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) from Hold to Buy and raised the price target from $71 to $76. Xcel Energy shares closed at $66.81 on Thursday. <a href="https://www.benzinga.com/quote/XEL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Craig-Hallum analyst Christian Schwab upgraded Cohu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COHU#NASDAQ">COHU</a>) from Hold to Buy and announced a $30 price target. Cohu shares closed at $24.91 on Thursday. <a href="https://www.benzinga.com/quote/COHU/analyst-ratings">See how other analysts view this stock.</a></li>
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Guidance

Reported Earlier, IDACORP Increases Lower-End Of Its 2024 EPS Guidance, Revising Range From $5.30 - $5.45 To $5.35 - $5.45, Est $5.41

Mizuho analyst Anthony Crowdell upgrades Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) from Neutral to Outperform and raises the price target from $102 to $116.

Mizuho Upgrades Idacorp to Outperform, Raises Price Target to $116

Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) reported quarterly earnings of $2.12 per share which missed the analyst consensus estimate of $2.18 by 2.75 percent.

Earnings

Earnings Misses

Idacorp Q3 2024 GAAP EPS $2.12 Misses $2.18 Estimate

Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) will release its quarterly earnings report on Thursday, 2024-10-31. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Idacorp to report an earnings per share (EPS) of $2.19.
Investors in Idacorp are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.30, leading to a 0.97% increase in the share price the following trading session.
Here's a look at Idacorp's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.41</td>
<td>1.15</td>
<td>0.60</td>
<td>1.96</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.71</td>
<td>0.95</td>
<td>0.61</td>
<td>2.07</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>2.0%</td>
<td>-0.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730311501_0.png" alt="eps graph" />
<h3>Analysts' Take on Idacorp</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Idacorp.
With 6 analyst ratings, Idacorp has a consensus rating of Neutral. The average one-year price target is $107.5, indicating a potential 5.45% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
The following analysis focuses on the analyst ratings and average 1-year price targets of and Idacorp, three prominent industry players, providing insights into their relative performance expectations and market positioning.
<h3>Analysis Summary for Peers</h3>
In the peer analysis summary, key metrics for and Idacorp are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Idacorp</td>
<td>Neutral</td>
<td>8.99%</td>
<td>$104.02M</td>
<td>2.93%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Idacorp is positioned in the middle among its peers for consensus rating. It ranks at the top for revenue growth, indicating strong performance in this area. However, it is at the bottom for gross profit and return on equity, suggesting potential areas for improvement in profitability and efficiency.
<h3>Delving into Idacorp's Background</h3>
Idacorp Inc is a holding company that, through its subsidiaries, acts as an electric utility engaged in the generation, transmission, distribution, sale, and purchase of electric energy and capacity. To do this, Idacorp owns and operates a portfolio of hydroelectric, coal-fired, gas-fired, and diesel-fired power plants located across the Northwestern United States. The company's hydroelectric and coal-fired plants are responsible for Majority of its total energy production. Idacorp mainly generates revenue from the sale of electricity to retail and wholesale customers. The Majority of the company's customers are residential consumers living in the Northwestern United States, while commercial and industrial consumers also represent important revenue streams.
<h3>Idacorp's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Idacorp displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 8.99%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Utilities sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 19.85%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Idacorp's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.93%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.05%, the company showcases effective utilization of assets.
Debt Management: Idacorp's debt-to-equity ratio is below the industry average. With a ratio of 0.88, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<a href="https://www.benzinga.com/quote/IDA/earnings">To track all earnings releases for Idacorp visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Idacorp's Earnings Preview

Primo Water (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/prmw#NYSE">PRMW</a>) announced that its board of directors has approved a special dividend of 82 cents, which reflects an increase of 811% from its quarterly dividend rate of 9 cents. It will be payable on Nov. 21, 2024, to stockholders of record as of Nov. 5, 2024.
<h2>Rationale Behind PRMW&#39;s Special Dividend</h2>
The special dividend came after Primo Water announced the receipt of regulatory approval under the Investment Canada Act in connection with the previously announced all-stock combination of Primo Water and BlueTriton, Inc. The transaction is expected to be closed by the end of 2024.
According to Primo Water, the combination of Primo Water and BlueTriton and their extensive brand and product portfolios should better position the companies to meet their customers&#39; demands and provide quality customer service.
<h2>Can PRMW Continue to Increase Shareholders&#39; Value?</h2>
The company continues to benefit from organic customer growth and strategic investment plans. The increasing water demand should also boost the company&#39;s performance. The second-quarter 2024 revenues increased 7.6% year over year. Organic growth contributed 6.6% to the top line.
Primo Water is still performing well on the basis of its precise and targeted plan. Consequently, the company is achieving balanced and broad-based rapid top-line growth. Strong profit growth can be attributed to its productivity and growth initiatives, which also enable margin improvement.
Since the beginning of this year, the company has embraced a new strategy that includes a focus on customer-centric initiatives, must-win priorities, and a commercial and growth mindset leveraging its portfolio of hydration solutions.
PRMW is continuously investing in improving its infrastructure. Between 2021 and 2023, the company invested nearly $437.6 million, and it aims to invest $154.1 million in 2024.
Primo Water has the potential to expand and improve even further, which suggests that management will have sufficient funds to continue with its shareholder-friendly initiatives in the future.
<h2>Utilities&#39; Legacy of Dividend Payment</h2>
Utility service companies often have steady operations and earnings. Due to their capacity to create cash flows, manage returns and perform consistently, utilities can pay dividends to shareholders on a regular basis.
In the past few months, IDACORP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ida#NYSE">IDA</a>), New Jersey Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>) and American States Water (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/awr#NYSE">AWR</a>) have raised their quarterly dividend rate by 3.6%, 7.1% and 8.3%, respectively.
The Zacks Consensus Estimate for IDACORP&#39;s 2024 earnings is pegged at $5.39 per share, implying a year-over-year increase of 4.9%. IDA&#39;s current dividend yield is 3.2%.
The Zacks Consensus Estimate for New Jersey Resources&#39; fiscal 2024 earnings is pegged at $2.95 per share, implying a year-over-year increase of 10.1%. NJR&#39;s current dividend yield is 3.86%.
The Zacks Consensus Estimate for American States Water&#39;s 2024 earnings is pegged at $3.03 per share, implying a year-over-year increase of 6.3%. AWR&#39;s current dividend yield is 2.17%.
<h2>PRMW&#39;s Stock Price Performance</h2>
In the past three months, PRMW&#39;s shares have risen 28.6% compared with the industry&#39;s growth of 1.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/81388.jpg?v=1905358745" />
Image Source: Zacks Investment Research
<h2>PRMW&#39;s Zacks Rank</h2>
The company currently carries a Zacks Rank #5 (Strong Sell).
<a href="https://www.zacks.com/stock/news/2351617/primo-water-declares-special-dividend-in-connection-with-merger-deal?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2351617">To read this article on Zacks.com click here.</a>

Mid Cap

Dividends

Management

PRMW

Primo Water Declares Special Dividend in Connection With Merger Deal

Wells Fargo analyst Sarah Akers maintains Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Equal-Weight and raises the price target from $106 to $109.

Wells Fargo Maintains Equal-Weight on Idacorp, Raises Price Target to $109

FirstEnergy Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) continuous capital investments to maintain and increase resiliency are likely to strengthen its infrastructure, which will help enhance its performance. Given its growth opportunities, FE makes for a solid investment option in the Utility sector.
Currently, the company carries a Zacks Rank #2 (Buy). Let&#39;s look at the factors that are driving the stock.
<h2>FE&#39;s Growth Projections &amp; Surprise History</h2>
The Zacks Consensus Estimate for FE&#39;s 2024 earnings per share is pinned at $2.70, which indicates year-over-year growth of 5.5%.
The consensus estimate for 2024 sales is pinned at $13.78 billion, which indicates year-over-year growth of 7.1%.
The company&#39;s long-term (three to five years) earnings growth rate is 7%.
FE has a positive earnings surprise history. Its trailing four-quarter earnings surprise is 2.66%, on average.
<h2>FE&#39;s Dividend Yield</h2>
FirstEnergy has been rewarding its shareholders with dividend payments at regular intervals. The company&#39;s board of directors approved a new dividend policy in February 2023 that increased the target payout ratio to 60-70% from 55-65% previously. Its current dividend yield is 3.86%, better than the Zacks S&amp;P 500 composite&#39;s average yield of 1.24%.
<h2>FE&#39;s Return on Equity</h2>
FirstEnergy&#39;s current return on equity (ROE) is 12.12%, which is more than the industry average of 10.42%. ROE, a profitable measure, reflects how effectively a company is utilizing its shareholders&#39; funds in its operations to generate income.
<h2>FE&#39;s Solvency</h2>
The time-to-interest earned ratio at the end of the second quarter was 2.11. The ratio, being greater than one, reflects the company&#39;s ability to meet future interest obligations without difficulties.
<h2>Strategic Investments of FirstEnergy</h2>
FirstEnergy&#39;s strategic investment will help serve its 6 million customers more efficiently. The company&#39;s &quot;Energize365&quot; is a multi-year grid evolution platform that is focused on enhancing the customer experience while maintaining affordability.
With planned investments of $26 billion between 2024 and 2028, FE plans to install advanced equipment and technologies that will strengthen and modernize its transmission and distribution infrastructure. Strengthening the transmission and renewable generation assets will allow it to transmit electricity even during adverse weather conditions.
<h2>FE Stock&#39;s Price Performance</h2>
Shares of FirstEnergy have gained 23.4% in the year-to-date period compared with the industry&#39;s 22.7% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/04/80233.jpg?v=627393970" />
Image Source: Zacks Investment Research
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks in the industry are NiSource Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ni#NYSE">NI</a>), IDACORP, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ida#NYSE">IDA</a>) and Edison International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eix#NYSE">EIX</a>). Each of these stocks currently carries a Zacks Rank of 2.
NiSource delivered an average earnings surprise of 20.64% in the last four quarters. The Zacks Consensus Estimate for NI&#39;s 2025 sales indicates year-over-year growth of 12.1%.
IDACORP delivered an average earnings surprise of 10.35% in the last four quarters. The consensus estimate for IDA&#39;s 2024 sales indicates year-over-year growth of 3.8%.
Edison International delivered an average earnings surprise of 4.13% in the last four quarters. The Zacks Consensus Estimate for EIX&#39;s 2024 sales indicates year-over-year growth of 2.9%.
<a href="https://www.zacks.com/stock/news/2345623/here-s-why-you-should-add-firstenergy-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2345623">To read this article on Zacks.com click here.</a>

Large Cap

Here's Why You Should Add FirstEnergy Stock to Your Portfolio Now

Morgan Stanley analyst David Arcaro maintains Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Equal-Weight and raises the price target from $102 to $108.

Morgan Stanley Maintains Equal-Weight on Idacorp, Raises Price Target to $108

IDACORP Increases Common Stock Dividend From $0.83 To $0.86

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Hold rating and announces Price Target of $110.

Initiation

Jefferies Initiates Coverage On Idacorp with Hold Rating, Announces Price Target of $110

B of A Securities analyst Ross Fowler reinstates Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Neutral and announces $110 price target.

B of A Securities Reinstates Neutral on Idacorp, Announces $110 Price Target

Morgan Stanley analyst David Arcaro maintains Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Equal-Weight and raises the price target from $94 to $102.

Morgan Stanley Maintains Equal-Weight on Idacorp, Raises Price Target to $102

Sempra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sre#NYSE">SRE</a>) reported second-quarter 2024 adjusted earnings per share of 89 cents, which missed the Zacks Consensus Estimate of 92 cents by 3.3%. The figure also declined 5.3% from earnings of 94 cents per share in the prior-year quarter.
Including one-time items, the company generated GAAP earnings of $1.12 per share compared with 95 cents in the second quarter of 2023.
<h3>Total Revenues</h3>
Sempra&#39;s total revenues of $3.01 billion declined 9.79% from $3.34 billion in the year-ago quarter. This was due to lower revenue contributions from the Natural gas and Energy-related business units. The top line also missed the Zacks Consensus Estimate of $3.52 billion by 14.5%.
<div class="chart_embed">
<h3>Sempra Energy Price, Consensus and EPS Surprise <a href="https://www.zacks.com/stock/chart/SRE/price-consensus-eps-surprise-chart?icid=chart-SRE-price-consensus-eps-surprise-chart"> </a></h3>
<h3><img alt="Sempra Energy Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/22/1722956149.png" style="height:286px; width:620px" title="" /></h3>
Sempra Energy price-consensus-eps-surprise-chart | Sempra Energy Quote
</div>
<h3>Segmental Update</h3>
Sempra California: Quarterly earnings amounted to $316 million compared with the year-ago quarter&#39;s level of $339 million.
Sempra Texas Utility: Earnings in this segment improved from $160 million in the year-ago quarter to $202 million.
Sempra Infrastructure: The segment recorded earnings of $291 million compared with $208 million in the year-ago quarter.
Parent and Other: The segment reported a loss of $96 million, narrower than the prior-year period&#39;s loss of $104 million.
<h3>Financial Update</h3>
As of Jun 30, 2024, Sempra&#39;s cash and cash equivalents totaled $228 million compared with $236 million as of Dec 31, 2023.
Long-term debt and finance leases amounted to $28.97 billion as of Jun 30, compared with $27.76 billion as of Dec 31, 2023.
Cash flow from operating activities decreased from $3.74 billion in the first six months of 2023 to $2.52 billion in the first six months of 2024.
<h3>Guidance</h3>
Sempra anticipates its 2024 earnings to be in the range of $4.60-$4.90 per share. The Zacks Consensus Estimate is pegged at $4.79 per share, higher than the midpoint of the company&#39;s guided range.
SRE expects its 2025 earnings to be in range of $4.90-$5.25 per share. The consensus estimate is pegged at $5.13 per share, higher than the midpoint of the company&#39;s guided range.
It still expects a long-term EPS growth rate of 6-8%.
<h3>Zacks Rank</h3>
Sempra currently carries a Zacks Rank #2 (Buy).
<h3>Recent Utility Releases</h3>
Spire Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sr#NYSE">SR</a>) reported third-quarter fiscal 2024 loss of 14 cents per share, narrrower than the Zacks Consensus Estimate of a loss of 18 cents per share by 0.4%. The company&#39;s bottom line improved 66.7% from a loss of 42 cents per share reported in the prior-year quarter.
The Zacks Consensus Estimate for SR&#39;s fiscal 2024 EPS is pegged at $4.28, implying an improvement of 5.7% from the year-earlier level.
Dominion Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>) reported second-quarter EPS of 55 cents, which lagged the Zacks Consensus Estimate of 58 cents by 5.2%. The figure increased 3.8% from earnings of 53 cents per share reported in the prior-year quarter.
The Zacks Consensus Estimate for Dominion&#39;s 2024 EPS is pegged at $2.75, implying an improvement of 38.2% from the year-earlier levels.
IDACORP, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ida#NYSE">IDA</a>) reported second-quarter EPS of $1.71, which beat the Zacks Consensus Estimate of $1.37 by 24.8%. The figure increased 26.7% from earnings of $1.35 per share reported in the prior-year quarter.
The Zacks Consensus Estimate for IDA&#39;s 2024 EPS is pegged at $5.37, implying an improvement of 4.5% from the year-earlier level.
<a href="https://www.zacks.com/stock/news/2317221/sempra-sre-q2-earnings-miss-estimates-revenues-decline-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2317221">To read this article on Zacks.com click here.</a>

Sempra Q2 Earnings Miss Estimates, Revenues Decline Y/Y

Wells Fargo analyst Sarah Akers maintains Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Equal-Weight and raises the price target from $98 to $106.

Wells Fargo Maintains Equal-Weight on Idacorp, Raises Price Target to $106

Dividend Champion, Contender, And Challenger Highlights: Week Of November 3

As previously reported, BofA analyst Ross Fowler upgraded Idacorp (IDA) to Buy from Neutral with a price target of $117, up from $113, after Q3 ear...

Idacorp upgraded to Buy at BofA after 2025 preliminary IRP results

BofA upgraded Idacorp (IDA) to Buy from Neutral with a price target of $117, up from $113. Published first on TheFly – the ultimate source for real...

Idacorp upgraded to Buy from Neutral at BofA

Idacorp shares tick higher as BofA upgrades to Buy

Morgan Stanley analyst David Arcaro maintained a Hold rating on IdaCorp (IDA – Research Report) today and set a price target of $110.00. The compan...

Morgan Stanley Reaffirms Their Hold Rating on IdaCorp (IDA)

Dividend Champion, Contender, And Challenger Highlights: Week Of November 24

Morgan Stanley raised the firm's price target on Idacorp (IDA) to $121 from $110 and keeps an Equal Weight rating on the shares. After a "dynamic" ...

Idacorp price target raised to $121 from $110 at Morgan Stanley

Morgan Stanley analyst David Arcaro maintained a Hold rating on IdaCorp (IDA – Research Report) today and set a price target of $120.00. The compan...

Morgan Stanley Sticks to Their Hold Rating for IdaCorp (IDA)

Idacorp Stock: Not Too Late To Buy Now

U.S. companies with potential pension risk transfer restructuring opportunities

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