StockNews.com Upgrades IDACORP (NYSE:IDA) to "Hold"

IDACORP (NYSE:IDA - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Tuesday.

Other research analysts have also issued research reports about the company. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley boosted their price target on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America upped their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.50.

IDACORP Stock Performance

Shares of NYSE IDA traded down $0.99 during mid-day trading on Tuesday, hitting $116.47. The company had a trading volume of 271,364 shares, compared to its average volume of 330,044. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.32 and a beta of 0.56. The firm's 50 day simple moving average is $115.61 and its two-hundred day simple moving average is $112.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP has a 12 month low of $90.64 and a 12 month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities research analysts forecast that IDACORP will post 5.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its stake in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc grew its position in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in IDACORP during the first quarter valued at about $34,000. Independence Bank of Kentucky increased its holdings in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in IDACORP during the fourth quarter valued at approximately $45,000. 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.