IDACORP (NYSE:IDA) Raised to Hold at StockNews.com

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

A number of other equities research analysts have also commented on the company. Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. 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 price objective on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley raised their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.50.

IDACORP Price Performance

Shares of NYSE:IDA traded down $0.99 on Tuesday, reaching $116.47. 271,364 shares of the company traded hands, compared to its average volume of 329,199. IDACORP has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. The company's 50 day moving average is $115.73 and its 200-day moving average is $112.39. The stock has a market capitalization of $6.29 billion, a PE ratio of 21.25, a P/E/G ratio of 2.32 and a beta of 0.56. 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 (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, analysts anticipate that IDACORP will post 5.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDACORP

Several institutional investors have recently made changes to their positions in IDA. Wellington Management Group LLP lifted its holdings in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after buying an additional 1,035,133 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in IDACORP in the 4th quarter worth approximately $37,104,000. Ameriprise Financial Inc. lifted its holdings in IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock worth $41,451,000 after purchasing an additional 324,866 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after purchasing an additional 166,864 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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.