IDACORP (NYSE:IDA) Upgraded at StockNews.com

IDACORP (NYSE:IDA) was upgraded by research analysts at StockNews.com to a “sell” rating in a report released on Friday.

Several other analysts have also recently commented on the stock. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Morgan Stanley boosted their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Mizuho reduced their price objective on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Wells Fargo & Company reduced their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Finally, Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.80.

IDACORP Stock Performance

NYSE:IDA traded down $0.09 during trading hours on Friday, hitting $94.58. 434,452 shares of the company were exchanged, compared to its average volume of 379,557. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The company’s 50 day moving average price is $90.75 and its 200-day moving average price is $94.05.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the previous year, the firm earned $0.83 EPS. As a group, research analysts forecast that IDACORP will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On IDACORP

A number of large investors have recently modified their holdings of the business. Clear Creek Financial Management LLC grew its holdings in shares of IDACORP by 24.0% during the first quarter. Clear Creek Financial Management LLC now owns 11,118 shares of the energy company’s stock worth $1,033,000 after buying an additional 2,149 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of IDACORP by 2.8% during the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the energy company’s stock worth $1,356,000 after buying an additional 400 shares in the last quarter. Canvas Wealth Advisors LLC purchased a new stake in shares of IDACORP during the first quarter worth $525,000. Raymond James & Associates grew its holdings in shares of IDACORP by 13.1% in the first quarter. Raymond James & Associates now owns 410,454 shares of the energy company’s stock valued at $38,127,000 after purchasing an additional 47,639 shares during the period. Finally, IFM Investors Pty Ltd purchased a new stake in shares of IDACORP in the first quarter valued at about $655,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

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.