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

Shares of IDACORP, Inc. (NYSE:IDA) have been assigned a consensus rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $108.83.

Several brokerages have recently issued reports on IDA. Bank of America upgraded 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 note on Tuesday, November 5th. Morgan Stanley boosted their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th.

Institutional Trading of IDACORP

Several institutional investors have recently modified their holdings of the business. M&T Bank Corp increased its stake in shares of IDACORP by 0.8% in the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock valued at $1,133,000 after buying an additional 92 shares during the period. Trust Point Inc. boosted its holdings in IDACORP by 1.4% in the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after acquiring an additional 101 shares during the last quarter. Blue Trust Inc. increased its position in IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after purchasing an additional 106 shares during the period. Raymond James Trust N.A. raised its holdings in IDACORP by 1.7% during the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after purchasing an additional 107 shares during the last quarter. Finally, Pitcairn Co. lifted its position in shares of IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after purchasing an additional 107 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

IDA stock opened at $116.88 on Tuesday. The company’s 50-day moving average price is $108.25 and its two-hundred day moving average price is $101.26. The firm has a market cap of $6.23 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.64 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP has a 12 month low of $86.43 and a 12 month high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings data 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 firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same period last year, the business earned $2.07 earnings per share. On average, analysts anticipate that IDACORP will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. The ex-dividend date was Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

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.