IDACORP (NYSE:IDA) Downgraded to Sell Rating by StockNews.com

IDACORP (NYSE:IDA) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

IDA has been the topic of a number of other research reports. UBS Group upped their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average price target of $120.50.

IDACORP Stock Down 1.6 %

Shares of IDA opened at $116.18 on Wednesday. The business’s 50 day simple moving average is $116.06 and its 200-day simple moving average is $112.67. IDACORP has a 1 year low of $90.64 and a 1 year high of $120.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The company had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same quarter last year, the business posted $0.95 earnings per share. As a group, equities analysts expect that IDACORP will post 5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDACORP

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in IDACORP by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock valued at $660,786,000 after buying an additional 77,230 shares during the period. Wellington Management Group LLP increased its holdings in shares of IDACORP by 43.3% in the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock valued at $374,279,000 after acquiring an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock worth $208,692,000 after acquiring an additional 166,864 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company’s stock worth $150,742,000 after purchasing an additional 29,094 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its position in IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after purchasing an additional 429,276 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

About IDACORP

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.