IDACORP (NYSE:IDA) Stock Rating Lowered by StockNews.com

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

A number of other equities analysts have also issued reports on IDA. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $113.00 to $117.00 in a research report on Tuesday. Morgan Stanley boosted their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, IDACORP has an average rating of “Hold” and a consensus target price of $108.83.

IDACORP Trading Up 3.2 %

NYSE:IDA opened at $109.51 on Wednesday. IDACORP has a 12 month low of $86.43 and a 12 month high of $109.53. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 3.58 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company’s 50 day moving average is $103.02 and its 200-day moving average is $98.48.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same period in the prior year, the business earned $2.07 EPS. Equities analysts anticipate that IDACORP will post 5.35 EPS for the current year.

Institutional Investors Weigh In On IDACORP

A number of institutional investors have recently bought and sold shares of the business. Trust Point Inc. boosted its stake in shares of IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after purchasing an additional 101 shares in the last quarter. Pitcairn Co. boosted its stake in shares of IDACORP by 2.4% in the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after purchasing an additional 103 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of IDACORP by 7.5% in the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after purchasing an additional 106 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after purchasing an additional 107 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its stake in shares of IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.