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

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

A number of other research firms also recently weighed in on IDA. Guggenheim downgraded IDACORP from a buy rating to a neutral rating and set a $93.00 target price on the stock. in a research report on Monday, January 22nd. Morgan Stanley upped their target price on IDACORP from $92.00 to $95.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. Mizuho decreased their price target on shares of IDACORP from $99.00 to $88.00 and set a neutral rating on the stock in a research note on Tuesday, March 5th. TheStreet lowered shares of IDACORP from a b- rating to a c+ rating in a report on Thursday, February 15th. Finally, Wells Fargo & Company dropped their price objective on shares of IDACORP from $100.00 to $94.00 and set an equal weight rating for the company in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $93.80.

IDACORP Stock Up 0.3 %

Shares of IDA stock opened at $94.91 on Friday. IDACORP has a 12 month low of $86.43 and a 12 month high of $112.91. 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 firm has a market cap of $4.81 billion, a PE ratio of 18.46 and a beta of 0.56. The stock has a 50 day moving average of $90.99 and a 200-day moving average of $93.98.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to analysts’ expectations of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the prior year, the company earned $0.83 EPS. On average, equities analysts predict that IDACORP will post 5.32 EPS for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio is 64.59%.

Institutional Investors Weigh In On IDACORP

Several large investors have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in IDACORP during the 1st quarter worth approximately $41,000. Headlands Technologies LLC acquired a new stake in shares of IDACORP in the third quarter valued at $40,000. Northwest Financial Advisors bought a new position in shares of IDACORP in the fourth quarter valued at about $52,000. Kapitalo Investimentos Ltda acquired a new position in IDACORP during the 4th quarter worth about $54,000. Finally, Spirit of America Management Corp NY bought a new stake in IDACORP during the 3rd quarter worth about $56,000. 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.