Zacks Investment Research lowered shares of IDACORP, Inc. (NYSE:IDA) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “IDACORP operates under stringent regulatory environment and operation of its hydro-electric power generation units require licenses and the permitting process could involve a number of stringent conditions which may lead to significant capital expenditures. The rising operating cost is a matter of concern for the company. However, the utility has plans to invest nearly $1.5 billion over 2017-2021 for transmission and plant expansion projects, which will allow the company to provide efficient services to expanding customer base.”

Several other analysts have also recently weighed in on IDA. BidaskClub raised shares of IDACORP from a sell rating to a hold rating in a research note on Friday, August 25th. KeyCorp reissued a hold rating on shares of IDACORP in a research note on Friday, September 1st.

IDACORP (NYSE IDA) traded down 0.36% on Tuesday, reaching $88.37. The company’s stock had a trading volume of 93,584 shares. IDACORP has a 12 month low of $72.93 and a 12 month high of $91.98. The firm has a market cap of $4.45 billion, a P/E ratio of 22.32 and a beta of 0.50. The firm’s 50 day moving average is $88.99 and its 200-day moving average is $86.41.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.07). The company had revenue of $333.01 million for the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same quarter in the previous year, the firm posted $1.12 earnings per share. On average, equities research analysts anticipate that IDACORP will post $4.00 EPS for the current year.

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Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock worth $156,000 after purchasing an additional 224 shares during the last quarter. Advisor Group Inc. grew its stake in shares of IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after purchasing an additional 111 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock worth $182,000 after purchasing an additional 930 shares during the last quarter. ETRADE Capital Management LLC bought a new stake in shares of IDACORP in the second quarter worth $200,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of IDACORP in the second quarter worth $205,000. 75.95% of the stock is currently owned by institutional investors.

IDACORP Company Profile

IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.

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