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 published on Friday.

IDA has been the subject of several other reports. Morgan Stanley raised their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Wells Fargo & Company reduced their target price on IDACORP from $100.00 to $94.00 and set an equal weight rating on the stock in a research note on Friday, February 16th. Guggenheim downgraded IDACORP from a buy rating to a neutral rating and set a $93.00 price target for the company. in a research report on Monday, January 22nd. Mizuho cut their price target on IDACORP from $99.00 to $88.00 and set a neutral rating for the company in a report on Tuesday, March 5th. Finally, TheStreet lowered IDACORP from a b- rating to a c+ rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, IDACORP presently has an average rating of Hold and an average target price of $93.80.

IDACORP Trading Up 0.3 %

Shares of IDACORP stock opened at $94.91 on Friday. The company has a 50-day moving average of $90.99 and a two-hundred day moving average of $93.98. The stock has a market cap of $4.81 billion, a PE ratio of 18.46 and a beta of 0.56. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.91.

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

IDACORP Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.50%. IDACORP’s dividend payout ratio (DPR) is presently 64.59%.

Hedge Funds Weigh In On IDACORP

Several institutional investors have recently added to or reduced their stakes in IDA. EverSource Wealth Advisors LLC increased its position in IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after purchasing an additional 112 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in IDACORP by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company’s stock valued at $1,436,000 after acquiring an additional 129 shares during the last quarter. Caprock Group LLC grew its position in IDACORP by 2.1% during the third quarter. Caprock Group LLC now owns 6,546 shares of the energy company’s stock valued at $613,000 after acquiring an additional 135 shares during the period. Exchange Traded Concepts LLC increased its stake in IDACORP by 2.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,076 shares of the energy company’s stock worth $569,000 after acquiring an additional 138 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of IDACORP by 13.5% in the 4th quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock worth $129,000 after purchasing an additional 164 shares during the period. 89.10% of the stock is currently 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.