IDACORP (NYSE:IDA) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of IDACORP (NYSE:IDA) to a sell rating in a research note released on Friday morning.

A number of other equities research analysts also recently weighed in on IDA. TheStreet downgraded IDACORP from a b- rating to a c+ rating in a research report on Thursday, February 15th. Morgan Stanley raised their target price on IDACORP from $92.00 to $95.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Guggenheim lowered IDACORP from a buy rating to a neutral rating and set a $93.00 target price on the stock. in a report on Monday, January 22nd. Wells Fargo & Company dropped their target price on IDACORP from $100.00 to $94.00 and set an equal weight rating on the stock in a report on Friday, February 16th. Finally, Mizuho dropped their target price on IDACORP from $99.00 to $88.00 and set a neutral rating on the stock in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $93.80.

IDACORP Price Performance

IDA opened at $94.60 on Friday. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.91. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $90.86 and its 200-day simple moving average is $93.99. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The business had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities research analysts anticipate that IDACORP will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is currently 64.59%.

Institutional Trading of IDACORP

Several institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky boosted its stake in shares of IDACORP by 297.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,572 shares of the energy company’s stock worth $3,332,000 after acquiring an additional 26,626 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of IDACORP by 545.1% in the third quarter. Trexquant Investment LP now owns 48,869 shares of the energy company’s stock worth $4,577,000 after acquiring an additional 41,293 shares during the last quarter. Invesco Ltd. boosted its stake in shares of IDACORP by 10.3% in the third quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock worth $26,100,000 after acquiring an additional 26,068 shares during the last quarter. William Blair Investment Management LLC lifted its position in IDACORP by 10.8% during the third quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock worth $43,703,000 after buying an additional 45,585 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in IDACORP by 216.8% during the third quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock worth $1,147,000 after buying an additional 8,384 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.