IDACORP, Inc. (NYSE:IDA) Receives $111.00 Average Target Price from Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have been given a consensus recommendation of “Hold” by the five analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $114.60.

A number of analysts have commented on the company. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their target price for the company from $102.00 to $116.00 in a report on Friday, November 1st. Finally, Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th.

IDACORP Price Performance

IDA stock opened at $111.70 on Wednesday. IDACORP has a 1 year low of $86.43 and a 1 year high of $120.42. The stock has a market capitalization of $5.95 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65. The company’s 50-day moving average is $112.75 and its 200-day moving average is $105.78. 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) last issued its earnings results 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 return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. Equities research analysts expect that IDACORP will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.08%. IDACORP’s payout ratio is presently 63.82%.

Institutional Trading of IDACORP

A number of institutional investors have recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in shares of IDACORP during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in IDACORP during the 3rd quarter valued at about $26,000. MassMutual Private Wealth & Trust FSB increased its position in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc boosted its position in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP in the second quarter valued at approximately $35,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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.