BidaskClub Downgrades IDACORP, Inc. (NYSE:IDA) to Hold
IDACORP, Inc. (NYSE:IDA) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
Separately, Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th.
IDACORP (IDA) traded down 0.28% during trading on Friday, reaching $85.35. 190,306 shares of the company’s stock were exchanged. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 20.88 and a beta of 0.53. IDACORP has a 12 month low of $72.93 and a 12 month high of $90.67. The firm’s 50-day moving average price is $86.97 and its 200-day moving average price is $82.92.
IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 4th. The coal producer reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. The firm had revenue of $302.54 million during the quarter. IDACORP had a return on equity of 9.60% and a net margin of 16.02%. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts anticipate that IDACORP will post $3.99 EPS for the current year.
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In other news, VP Lisa A. Grow sold 1,200 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $106,344.00. Following the completion of the transaction, the vice president now owns 17,248 shares in the company, valued at approximately $1,528,517.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of IDA. BlackRock Inc. increased its position in IDACORP by 18,568.5% in the first quarter. BlackRock Inc. now owns 7,810,350 shares of the coal producer’s stock valued at $647,945,000 after buying an additional 7,768,513 shares during the last quarter. Vanguard Group Inc. increased its position in IDACORP by 3.6% in the first quarter. Vanguard Group Inc. now owns 4,579,299 shares of the coal producer’s stock valued at $379,899,000 after buying an additional 159,218 shares during the last quarter. State Street Corp increased its position in IDACORP by 1.0% in the first quarter. State Street Corp now owns 1,714,649 shares of the coal producer’s stock valued at $142,250,000 after buying an additional 17,562 shares during the last quarter. Schroder Investment Management Group increased its position in IDACORP by 8.2% in the first quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock valued at $86,828,000 after buying an additional 79,517 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in IDACORP by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 740,703 shares of the coal producer’s stock valued at $61,449,000 after buying an additional 34,156 shares during the last quarter. Institutional investors own 78.49% of the company’s stock.
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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