IDACORP (NYSE:IDA) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of IDACORP (NYSE:IDA – Get Rating) in a research note published on Thursday morning. The brokerage issued a sell rating on the energy company’s stock.

IDA has been the subject of a number of other reports. Mizuho decreased their price target on IDACORP from $119.00 to $117.00 and set a buy rating for the company in a research report on Friday, December 9th. Wells Fargo & Company decreased their price target on IDACORP from $113.00 to $110.00 and set an equal weight rating for the company in a research report on Friday, February 17th.

IDACORP Stock Performance

Shares of IDACORP stock opened at $106.82 on Thursday. The company has a market cap of $5.40 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 7.13 and a beta of 0.59. IDACORP has a 52 week low of $93.53 and a 52 week high of $118.92. The business has a 50 day moving average price of $104.66 and a 200-day moving average price of $104.93. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 0.78.

IDACORP (NYSE:IDA – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The energy company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The firm had revenue of $422.96 million during the quarter, compared to the consensus estimate of $360.62 million. IDACORP had a return on equity of 9.42% and a net margin of 15.75%. During the same period in the prior year, the business posted $0.65 earnings per share. Equities analysts anticipate that IDACORP will post 5.01 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Monday, February 6th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Friday, February 3rd. IDACORP’s dividend payout ratio is currently 61.84%.

Institutional Trading of IDACORP

Large investors have recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in IDACORP in the second quarter worth $25,000. FourThought Financial LLC increased its position in IDACORP by 125.4% in the third quarter. FourThought Financial LLC now owns 257 shares of the energy company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in IDACORP in the fourth quarter worth $33,000. Belpointe Asset Management LLC purchased a new stake in IDACORP in the fourth quarter worth $35,000. Finally, Crewe Advisors LLC purchased a new stake in IDACORP in the fourth quarter worth $35,000. 79.38% of the stock is owned by hedge funds and other institutional investors.

About IDACORP

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IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. It operates through the Utilities Operations and All Other segments. The Utilities Operations segment focuses on the production of electricity. The All Others segment consists of IFS’s investments in affordable housing developments and historic rehabilitation projects and Ida-West’s joint venture investments in small hydropower generation projects.