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

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

Several other brokerages have also recently weighed in on IDA. Guggenheim cut 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 reduced their price target on IDACORP from $99.00 to $88.00 and set a neutral rating for the company in a research report on Tuesday, March 5th. TheStreet lowered IDACORP from a b- rating to a c+ rating in a report on Thursday, February 15th. Morgan Stanley raised their price objective on IDACORP from $92.00 to $95.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company dropped their price objective on IDACORP from $100.00 to $94.00 and set an equal weight rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $93.80.

IDACORP Trading Down 0.1 %

Shares of NYSE:IDA opened at $94.58 on Friday. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.91. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $90.75 and a 200-day moving average price of $94.05.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $411.95 million during the quarter, compared to analysts’ expectations of $429.84 million. During the same period last year, the business posted $0.83 earnings per share. Equities analysts predict that IDACORP will post 5.32 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio is presently 64.59%.

Institutional Trading of IDACORP

Institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of IDACORP by 297.6% in the third 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 during the last quarter. Trexquant Investment LP lifted its position in IDACORP by 545.1% during the third quarter. Trexquant Investment LP now owns 48,869 shares of the energy company’s stock worth $4,577,000 after buying an additional 41,293 shares in the last quarter. Invesco Ltd. lifted its position in IDACORP by 10.3% during the third quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock worth $26,100,000 after buying an additional 26,068 shares in the last quarter. William Blair Investment Management LLC lifted its position in IDACORP by 10.8% during the third quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock worth $43,703,000 after buying an additional 45,585 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in IDACORP by 216.8% during the third quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock worth $1,147,000 after buying 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.