IDACORP Inc (NYSE:IDA) announced a quarterly dividend on Thursday, January 18th, RTT News reports. Stockholders of record on Monday, February 5th will be given a dividend of 0.59 per share by the coal producer on Wednesday, February 28th. This represents a $2.36 annualized dividend and a dividend yield of 2.82%.
IDACORP has increased its dividend by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 6 years. IDACORP has a dividend payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Analysts expect IDACORP to earn $4.16 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 56.7%.
Shares of IDACORP (NYSE IDA) opened at $83.71 on Friday. The company has a market capitalization of $4,249.65, a P/E ratio of 20.37, a PEG ratio of 4.98 and a beta of 0.55. IDACORP has a 1-year low of $78.05 and a 1-year high of $100.04. The company has a current ratio of 2.03, a quick ratio of 1.53 and a debt-to-equity ratio of 0.78.
Several equities research analysts recently issued reports on IDA shares. ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Bank of America started coverage on IDACORP in a report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price target for the company. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of IDACORP in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $91.00.
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IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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