IDACORP (NYSE:IDA) Upgraded at StockNews.com

IDACORP (NYSE:IDA) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research note issued on Friday.

A number of other analysts also recently issued reports on the company. Guggenheim downgraded 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. Wells Fargo & Company dropped their target price on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Mizuho dropped their target price 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 downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley boosted their target price on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.80.

IDACORP Price Performance

IDA stock traded down $0.09 during mid-day trading on Friday, reaching $94.58. 434,452 shares of the company traded hands, compared to its average volume of 379,557. 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 company has a market capitalization of $4.79 billion, a P/E ratio of 18.40 and a beta of 0.56. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.91. The company has a fifty day moving average price of $90.75 and a 200-day moving average price of $94.05.

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

Hedge Funds Weigh In On IDACORP

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new position in shares of IDACORP during the third quarter valued at approximately $101,858,000. River Road Asset Management LLC increased its stake in shares of IDACORP by 335.2% during the third quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock valued at $59,230,000 after buying an additional 487,134 shares during the period. Victory Capital Management Inc. increased its stake in shares of IDACORP by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock valued at $117,477,000 after buying an additional 273,560 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of IDACORP by 128.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 394,857 shares of the energy company’s stock valued at $38,822,000 after buying an additional 221,777 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $16,759,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

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.