IDACORP, Inc. (NYSE:IDA) Given Consensus Rating of “Hold” by Analysts

IDACORP, Inc. (NYSE:IDA) has received an average rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $93.80.

Several research analysts have weighed in on IDA shares. Mizuho lowered their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Wells Fargo & Company lowered their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 22nd. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley increased their price target on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st.

Institutional Trading of IDACORP

Several large investors have recently modified their holdings of the business. Chilton Capital Management LLC acquired a new stake in IDACORP during the first quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in IDACORP during the third quarter worth approximately $40,000. State of Wyoming boosted its position in IDACORP by 34.4% during the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Cohen & Steers Inc. boosted its position in IDACORP by 33.8% during the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after acquiring an additional 101 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in IDACORP during the fourth quarter worth approximately $50,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 2.1 %

NYSE IDA opened at $92.40 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $90.28 and a 200 day moving average price of $94.53. IDACORP has a 52-week low of $86.43 and a 52-week high of $112.96. The stock has a market capitalization of $4.68 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.89 and a beta of 0.55.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts expect that IDACORP will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.32 annualized dividend and a dividend yield of 3.59%. IDACORP’s dividend payout ratio is presently 64.59%.

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.