IDACORP (NYSE:IDA) Stock Rating Upgraded by TheStreet

IDACORP (NYSE:IDA) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.

Separately, Sidoti decreased their price objective on shares of IDACORP from $108.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $102.83.

NYSE:IDA opened at $91.25 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.85 and a quick ratio of 1.60. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 7.13 and a beta of 0.46. The company’s 50-day moving average is $84.53 and its two-hundred day moving average is $88.97. IDACORP has a 1-year low of $69.05 and a 1-year high of $113.58.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 30th. The energy company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. The company had revenue of $318.77 million for the quarter, compared to analyst estimates of $310.35 million. IDACORP had a net margin of 18.22% and a return on equity of 9.48%. During the same period in the previous year, the business posted $1.05 EPS. As a group, equities analysts anticipate that IDACORP will post 4.6 earnings per share for the current fiscal year.

In related news, Director Christine King sold 3,273 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $91.79, for a total transaction of $300,428.67. Following the sale, the director now directly owns 8,919 shares of the company’s stock, valued at approximately $818,675.01. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeffrey L. Malmen sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.70, for a total transaction of $106,210.00. 0.53% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Buffington Mohr McNeal increased its stake in IDACORP by 1.5% during the 2nd quarter. Buffington Mohr McNeal now owns 7,594 shares of the energy company’s stock worth $663,000 after buying an additional 113 shares during the period. Fifth Third Bancorp grew its position in shares of IDACORP by 18.1% in the 2nd quarter. Fifth Third Bancorp now owns 842 shares of the energy company’s stock valued at $74,000 after buying an additional 129 shares during the last quarter. M&T Bank Corp grew its position in shares of IDACORP by 5.5% in the 2nd quarter. M&T Bank Corp now owns 3,219 shares of the energy company’s stock valued at $282,000 after buying an additional 169 shares during the last quarter. Signaturefd LLC grew its position in shares of IDACORP by 51.0% in the 2nd quarter. Signaturefd LLC now owns 515 shares of the energy company’s stock valued at $45,000 after buying an additional 174 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of IDACORP by 371.2% in the 3rd quarter. CENTRAL TRUST Co now owns 311 shares of the energy company’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. 77.16% of the stock is currently owned by hedge funds and other institutional investors.

About IDACORP

IDACORP, Inc 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 three coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Analyst Recommendations for IDACORP (NYSE:IDA)

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