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Analyzing IDACORP (NYSE:IDA) & ReNew Energy Global (NASDAQ:RNW)

Financial News Live ·  Jan 28, 2023 02:52

IDACORP (NYSE:IDA – Get Rating) and ReNew Energy Global (NASDAQ:RNW – Get Rating) are both mid-cap utilities companies, but which is the better business? We will compare the two businesses based on the strength of their institutional ownership, earnings, risk, profitability, analyst recommendations, valuation and dividends.

Insider & Institutional Ownership

79.4% of IDACORP shares are held by institutional investors. Comparatively, 45.9% of ReNew Energy Global shares are held by institutional investors. 0.7% of IDACORP shares are held by company insiders. Comparatively, 8.7% of ReNew Energy Global shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company is poised for long-term growth.

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Profitability

This table compares IDACORP and ReNew Energy Global's net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
IDACORP 16.05% 9.20% 3.39%
ReNew Energy Global -14.54% -8.78% -1.73%

Volatility and Risk

IDACORP has a beta of 0.59, indicating that its stock price is 41% less volatile than the S&P 500. Comparatively, ReNew Energy Global has a beta of 0.43, indicating that its stock price is 57% less volatile than the S&P 500.

Valuation and Earnings

This table compares IDACORP and ReNew Energy Global's revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
IDACORP $1.46 billion 3.65 $245.55 million $4.93 21.34
ReNew Energy Global $912.00 million 2.68 -$211.00 million ($0.35) -17.40

IDACORP has higher revenue and earnings than ReNew Energy Global. ReNew Energy Global is trading at a lower price-to-earnings ratio than IDACORP, indicating that it is currently the more affordable of the two stocks.

Analyst Ratings

This is a breakdown of recent ratings and recommmendations for IDACORP and ReNew Energy Global, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
IDACORP 0 2 1 0 2.33
ReNew Energy Global 0 0 0 0 N/A

IDACORP currently has a consensus price target of $111.00, suggesting a potential upside of 5.51%. Given IDACORP's higher possible upside, equities analysts clearly believe IDACORP is more favorable than ReNew Energy Global.

Summary

IDACORP beats ReNew Energy Global on 12 of the 13 factors compared between the two stocks.

About IDACORP

(Get Rating)

IDACORP, Inc. is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. The firm owns and operates hydroelectric plants on the Snake River and its tributaries. It operates through the following segments: Utilities Operations and Other. The Utilities Operations segment focuses on the production of electricity. The Others segment consists of IFS's investments in affordable housing developments and historic rehabilitation projects and Ida-West's joint venture investments in small hydropower generation projects. The company was founded on October 1, 1998, and is headquartered in Boise, ID.

About ReNew Energy Global

(Get Rating)

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through Wind Power and Solar Power segments. It develops, builds, owns, and operates utility scale wind and solar energy projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers. The company also provides engineering, procurement, and construction services; operation and maintenance services; consultancy services; and sells renewable energy certificates. As of March 31, 2022, its portfolio consisted of 10.69 GW of wind and solar energy projects, hydro, firm power projects, and distributed solar energy projects, of which 7.57 GW projects were commissioned and 3.12 GW were committed. ReNew Energy Global Plc was founded in 2011 and is based in London, the United Kingdom.

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