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

IDACORP (NYSE:IDA - Get Free Report) 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.

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

IDACORP Trading Up 1.8 %

Shares of NYSE IDA traded up $1.92 during midday trading on Wednesday, reaching $111.44. 509,099 shares of the stock were exchanged, compared to its average volume of 346,306. The company has a market capitalization of $5.93 billion, a P/E ratio of 20.68, a P/E/G ratio of 3.58 and a beta of 0.60. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.03. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $103.20 and a 200-day moving average price of $98.59.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (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 company had revenue of $528.53 million during the quarter, compared to analysts' expectations of $524.39 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. Equities research analysts expect that IDACORP will post 5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDACORP

Institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC raised its holdings in IDACORP by 18.4% during the 1st quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company's stock worth $12,065,000 after buying an additional 20,184 shares during the period. Sei Investments Co. raised its holdings in IDACORP by 90.0% during the 1st quarter. Sei Investments Co. now owns 74,368 shares of the energy company's stock worth $6,908,000 after buying an additional 35,217 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in IDACORP during the 1st quarter worth about $5,087,000. Assenagon Asset Management S.A. acquired a new position in shares of IDACORP in the 2nd quarter valued at about $8,032,000. Finally, Duality Advisers LP acquired a new position in shares of IDACORP in the 1st quarter valued at about $837,000. 89.10% of the stock is owned by institutional investors and hedge funds.

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.