IDACORP, Inc. (NYSE:IDA) Receives Average Recommendation of “Hold” from Brokerages

IDACORP, Inc. (NYSE:IDA) has earned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $93.80.

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

Institutional Trading of IDACORP

Several institutional investors have recently made changes to their positions in the stock. Chilton Capital Management LLC acquired a new stake in IDACORP in the first quarter valued at approximately $25,000. Cohen & Steers Inc. lifted its stake in IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after buying an additional 101 shares during the last quarter. State of Wyoming increased its stake in IDACORP by 34.4% during the 2nd quarter. State of Wyoming now owns 426 shares of the energy company’s stock valued at $44,000 after buying an additional 109 shares during the period. Headlands Technologies LLC acquired a new stake in shares of IDACORP in the third quarter valued at $40,000. Finally, Lazard Asset Management LLC acquired a new position in shares of IDACORP in the 4th quarter worth approximately $50,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDACORP stock opened at $90.73 on Thursday. The business has a 50-day simple moving average of $90.37 and a 200-day simple moving average of $94.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. IDACORP has a one year low of $86.43 and a one year high of $112.96. The company has a market cap of $4.59 billion, a PE ratio of 17.65, a P/E/G ratio of 3.86 and a beta of 0.55.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the prior year, the firm posted $0.83 EPS. On average, equities research analysts forecast that IDACORP will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were given a dividend of $0.83 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.32 annualized dividend and a dividend yield of 3.66%. IDACORP’s dividend payout ratio is currently 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.