IDACORP, Inc. (NYSE:IDA) Receives $99.50 Average Price Target from Brokerages

Shares of IDACORP, Inc. (NYSE:IDAGet Free Report) have been assigned a consensus rating of “Hold” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $99.50.

Several analysts recently weighed in on IDA shares. UBS Group started coverage on shares of IDACORP in a research report on Monday, October 23rd. They issued a “neutral” rating and a $99.00 price objective on the stock. Mizuho lifted their price objective on shares of IDACORP from $93.00 to $98.00 and gave the company a “neutral” rating in a research report on Friday, December 1st. Guggenheim downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 22nd. Finally, StockNews.com upgraded shares of IDACORP to a “sell” rating in a research report on Monday, November 20th.

Read Our Latest Research Report on IDA

IDACORP Trading Down 2.4 %

NYSE IDA opened at $92.17 on Wednesday. IDACORP has a one year low of $88.10 and a one year high of $112.96. The company has a 50-day simple moving average of $96.64 and a 200-day simple moving average of $96.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.81 and a current ratio of 2.12. The firm has a market capitalization of $4.67 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 3.88 and a beta of 0.57.

IDACORP (NYSE:IDAGet Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The energy company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.70 by $0.37. The business had revenue of $510.91 million during the quarter, compared to analyst estimates of $552.12 million. IDACORP had a net margin of 15.30% and a return on equity of 9.51%. On average, equities analysts forecast that IDACORP will post 5.13 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, February 2nd. IDACORP’s dividend payout ratio (DPR) is currently 61.94%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in shares of IDACORP in the first quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of IDACORP in the third quarter worth $40,000. State of Wyoming lifted its stake in shares of IDACORP by 34.4% in the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after buying an additional 109 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after buying an additional 101 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in IDACORP during the 4th quarter valued at $50,000. 83.00% of the stock is owned by hedge funds and other institutional investors.

IDACORP Company Profile

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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.

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