IDA

BofA's Stock Screening Strategy: Bank of America recommends investing in stocks that have historically performed well during market downturns, focusing on those with low crowding risk and minimal earnings volatility. They identified 36 high-quality stocks that have outperformed in at least 80% of significant market pullbacks since the 1980s.

Highlighted Stocks: Among the 36 stocks recommended by BofA are well-known companies such as Verizon, Costco, Johnson & Johnson, and Procter & Gamble, which are characterized by strong S&P quality ratings and underweight positions by active fund managers.

IdaCorp Analysis: Wells Fargo analyst Sarah Akers maintains a Hold rating on IdaCorp with a price target of $121.00, reflecting a Moderate Buy consensus among analysts with an average price target suggesting an 8.1% upside from current levels.

TXNM Energy and Southern Co Ratings: TXNM Energy receives a Buy rating from Wells Fargo with a price target of $58.00, while Southern Co is rated Hold with a price target of $95.00, indicating modest potential for both stocks according to analyst assessments.

Idacorp Stock Sale: Idacorp (IDA) has filed to sell common stock, although the amount of stock to be sold has not been disclosed.

Investment Insights: The article highlights the potential for investors to discover top-rated stocks and maximize their portfolios using TipRanks’ Stock Screener.

IDACORP Stock Offering: IDACORP has filed to sell common stocks, although the specific amount has not been disclosed.

Future Earnings Projections: The company targets an earnings per share (EPS) of $5.65-$5.85 for 2025, supported by strong capital expenditure growth forecasts.

Earnings Report Announcement: IDACORP, Inc. will release its fourth quarter results on February 20, followed by an analyst conference call at 2:30 p.m. Mountain Time to discuss the earnings.

Company Overview: IDACORP, based in Boise, Idaho, operates subsidiaries including Idaho Power and focuses on energy and affordable housing projects, serving over 650,000 customers in southern Idaho and eastern Oregon.

Earnings Report Announcement: IDACORP, Inc. will release its fourth quarter results on February 20, followed by an analyst conference call at 2:30 p.m. Mountain Time to discuss the earnings.

Company Overview: IDACORP, based in Boise, Idaho, operates subsidiaries including Idaho Power and is involved in energy and real estate sectors, serving over 650,000 customers across southern Idaho and eastern Oregon.

Market Movements: Tempus AI Inc. and IDACORP Inc. saw significant pre-market gains of 16.2% and 9.7%, respectively, while RB Global Inc. and Walgreens Boots Alliance Inc. experienced declines of 10.3% and 6.4%. S&P 500 futures rose by 0.36%, indicating a positive outlook for the upcoming trading session.

Commodities and Global Indices: Brent crude oil and gold futures fell by 1.57% and 0.51%, respectively, while Bitcoin increased by 0.77%. Asian markets showed mixed results, with Japan's NIKKEI 225 up 0.32% and China's Shanghai Composite down 0.05%, while European stocks were slightly up in afternoon trading.

Dividend Declaration: IDACORP, Inc. has announced a common stock dividend of $0.86 per share.

Payment Details: The dividend will be payable on February 28, 2025, to shareholders recorded by the close of business on February 5, 2025.

Incident Overview: Neil Warburton, an Australian mining executive, was approached by armed soldiers while visiting his lithium mine in southern Ethiopia.

Project Significance: The lithium mine is one of the largest undeveloped projects globally and aims to start production in late 2024, supplying materials for electric vehicle batteries.

PSEG's Renewable Focus: Public Service Enterprise Group (PSEG) is expanding its renewable energy initiatives, particularly in solar and wind, while investing $18-$21 billion in infrastructure improvements from 2024 to 2028. However, the company faces financial challenges, including significant long-term debt and costs related to environmental remediation of former gas plant sites.

Stock Performance and Comparisons: PSEG shares have increased by 15.8% over the past six months, outperforming the industry average of 7.9%. Other companies in the same sector, such as IDACORP, DTE Energy, and NiSource, currently hold higher Zacks rankings, indicating better investment potential.

Utility Stocks Performance: Utility stocks have surged by 20% in 2024, driven by the demand for electricity from AI data centers, with companies like Entergy and NiSource positioned to benefit significantly from this trend.

Investment Opportunities: Analysts are optimistic about utilities' potential for growth alongside their traditional role as safe investments, highlighting firms that can secure deals with tech giants as key players in the evolving market landscape.

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Dividend Predictability: Dividend amounts are generally unpredictable and fluctuate with a company's profitability, as illustrated by Idacorp Inc's historical dividend data.

Investment Insight: The article suggests assessing Idacorp's dividend history to determine the likelihood of maintaining a 3% annual yield, while also mentioning other recently discounted dividend stocks.

Dividend Increase Announcement: Global Water Resources Inc. has raised its monthly cash dividend by 1%, now at 2.533 cents per share, with an annualized dividend of 30.396 cents, reflecting a current yield of 2.3%, surpassing the S&P 500 average.

Growth and Investment Strategy: The company continues to show organic growth with a 4.7% increase in active connections year-over-year, while investing nearly $7 million in infrastructure projects to enhance services and support future revenue growth.

Overbought Stocks in Utilities Sector: As of November 15, 2024, four utility stocks—Pure Cycle Corporation, Pampa Energia S.A., Xcel Energy Inc, and IDACORP Inc—are identified as overbought, with Relative Strength Index (RSI) values above 70, indicating potential warning signs for momentum-focused investors.

Recent Performance Highlights: Pure Cycle reported strong financial results with a stock increase of 23% over the past month, while Pampa Energia also exceeded earnings expectations. Conversely, IDACORP missed earnings estimates despite a stock jump, reflecting mixed performance across these companies.

Analyst Upgrade: B of A Securities upgraded IDACORP's outlook from Neutral to Buy, with a one-year price target average of $109.72/share, indicating a slight upside potential of 0.19% from its recent closing price.

Institutional Holdings: There has been a decrease in institutional ownership in IDACORP, with notable reductions from firms like Wellington Management and T. Rowe Price, while some firms like Victory Capital Management increased their allocations significantly.

Idacorp's Stock Performance: Idacorp Inc's shares have increased over 7% in the past month, with a recent price of $108.89, despite missing third-quarter earnings expectations but raising its full-year guidance.

Analyst Upgrade and Growth Forecast: Analyst Ross Fowler upgraded Idacorp's rating from Neutral to Buy, increasing the price target to $117, citing significant growth in the company's five-year capex plan and potential for above-average earnings growth through 2028.

Analyst Upgrades: Several top Wall Street analysts have upgraded their ratings on various companies, including eBay (from Market Perform to Outperform), IDACORP (from Neutral to Buy), and MasTec (from Hold to Buy), with corresponding price target increases.

Stock Performance: The upgrades reflect positive sentiment towards these stocks, with eBay shares closing at $60.23, IDACORP at $106.94, and MasTec at $132.61, indicating potential for growth based on analyst expectations.

Analyst Upgrades: Several Wall Street analysts have upgraded their ratings on various companies, including IDACORP, argenx, Atlassian, Xcel Energy, and Cohu, with significant price target increases.

Current Stock Prices: As of Thursday, IDACORP shares closed at $103.48, argenx at $586.30, Atlassian at $188.54, Xcel Energy at $66.81, and Cohu at $24.91.

Earnings Conference Call Overview: IDACORP, Inc. held its Q3 2024 earnings conference call on October 31, 2024, featuring key company executives discussing financial results and future outlooks.

Forward-Looking Statements Caution: The company emphasized the inclusion of forward-looking statements in their discussion, highlighting potential risks and uncertainties that could impact actual results compared to projections.