IDACORP (NYSE:IDA) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of IDACORP (NYSE:IDA) to a sell rating in a report issued on Friday.

A number of other analysts have also recently issued reports on the company. TheStreet cut IDACORP from a b- rating to a c+ rating in a report on Thursday, February 15th. Morgan Stanley boosted 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 cut IDACORP from a buy rating to a neutral rating and set a $93.00 target price for the company. in a report on Monday, January 22nd. Wells Fargo & Company decreased their target price on IDACORP from $100.00 to $94.00 and set an equal weight rating for the company in a report on Friday, February 16th. Finally, Mizuho decreased their target price on IDACORP from $99.00 to $88.00 and set a neutral rating for the company 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 currently has an average rating of Hold and a consensus target price of $93.80.

IDACORP Stock Down 0.1 %

IDA opened at $94.58 on Friday. 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 stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. The business has a 50-day moving average of $90.75 and a two-hundred day moving average of $94.05. IDACORP has a 12 month low of $86.43 and a 12 month high of $112.91.

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

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is presently 64.59%.

Hedge Funds Weigh In On IDACORP

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky lifted its position in IDACORP by 297.6% during the 3rd 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 in the last quarter. Trexquant Investment LP raised its position in shares of IDACORP by 545.1% in the 3rd quarter. Trexquant Investment LP now owns 48,869 shares of the energy company’s stock valued at $4,577,000 after purchasing an additional 41,293 shares in the last quarter. Invesco Ltd. raised its position in shares of IDACORP by 10.3% in the 3rd quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock valued at $26,100,000 after purchasing an additional 26,068 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of IDACORP by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock valued at $43,703,000 after purchasing an additional 45,585 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of IDACORP by 216.8% in the 3rd quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock valued at $1,147,000 after purchasing 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.