IDACORP Inc (NYSE:IDA) Plans Quarterly Dividend of $0.67

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IDACORP Inc (NYSE:IDA) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.67 per share by the coal producer on Monday, December 2nd. This represents a $2.68 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, November 4th. This is a positive change from IDACORP’s previous quarterly dividend of $0.63.

Shares of NYSE:IDA opened at $108.03 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.64 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $110.24 and its two-hundred day simple moving average is $105.08. IDACORP has a 1-year low of $89.31 and a 1-year high of $114.01. The stock has a market cap of $4.26 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 6.34 and a beta of 0.22.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The coal producer reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.15). IDACORP had a net margin of 16.16% and a return on equity of 9.40%. The company had revenue of $386.32 million for the quarter, compared to the consensus estimate of $396.28 million. During the same quarter last year, the business posted $2.02 earnings per share. On average, sell-side analysts forecast that IDACORP will post 4.46 earnings per share for the current fiscal year.

In related news, COO Lisa A. Grow sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $108.26, for a total value of $81,195.00. Following the completion of the sale, the chief operating officer now owns 14,247 shares in the company, valued at approximately $1,542,380.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

A number of equities research analysts have recently commented on the company. Sidoti assumed coverage on IDACORP in a research note on Friday, September 27th. They set a “neutral” rating and a $114.00 target price on the stock. Williams Capital upgraded IDACORP from a “sell” rating to a “hold” rating and lifted their target price for the stock from $90.00 to $104.00 in a research note on Friday. ValuEngine cut IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price objective for the company. in a report on Friday, July 26th.

About IDACORP

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Dividend History for IDACORP (NYSE:IDA)

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