IDACORP (NYSE:IDA) Now Covered by StockNews.com

StockNews.com began coverage on shares of IDACORP (NYSE:IDA – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the energy company’s stock.

IDA has been the subject of several other reports. Wells Fargo & Company decreased their target price on shares of IDACORP from $113.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, February 17th. Mizuho decreased their target price on shares of IDACORP from $119.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, December 9th.

IDACORP Stock Performance

Shares of NYSE IDA opened at $106.24 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. IDACORP has a 12 month low of $93.53 and a 12 month high of $118.92. The company has a 50 day simple moving average of $104.72 and a two-hundred day simple moving average of $104.94. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 6.74 and a beta of 0.59.

IDACORP (NYSE:IDA – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The energy company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. IDACORP had a net margin of 15.75% and a return on equity of 9.42%. The business had revenue of $422.96 million during the quarter, compared to analysts’ expectations of $360.62 million. During the same period in the previous year, the business posted $0.65 EPS. As a group, analysts predict that IDACORP will post 5.01 earnings per share for the current year.

Hedge Funds Weigh In On IDACORP

Large investors have recently added to or reduced their stakes in the stock. Commerce Bank raised its position in IDACORP by 3.6% during the second quarter. Commerce Bank now owns 6,019 shares of the energy company’s stock worth $638,000 after acquiring an additional 211 shares during the period. Ronald Blue Trust Inc. acquired a new position in IDACORP during the second quarter worth $136,000. Palisade Capital Management LLC NJ raised its position in IDACORP by 7.1% during the third quarter. Palisade Capital Management LLC NJ now owns 527,116 shares of the energy company’s stock worth $52,190,000 after acquiring an additional 35,172 shares during the period. Royal Bank of Canada grew its holdings in shares of IDACORP by 2.6% during the third quarter. Royal Bank of Canada now owns 228,920 shares of the energy company’s stock worth $22,665,000 after buying an additional 5,697 shares in the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new stake in shares of IDACORP during the second quarter worth $420,000. 79.38% of the stock is currently owned by institutional investors and hedge funds.

About IDACORP

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IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. It operates through the Utilities Operations and All Other segments. The Utilities Operations segment focuses on the production of electricity. The All Others segment consists of IFS’s investments in affordable housing developments and historic rehabilitation projects and Ida-West’s joint venture investments in small hydropower generation projects.