Brokerages Set IDACORP, Inc. (NYSE:IDA) PT at $93.80

IDACORP, Inc. (NYSE:IDAGet Free Report) has been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $93.80.

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

Get Our Latest Stock Report on IDA

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in shares of IDACORP in the first quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of IDACORP in the third quarter valued at approximately $40,000. Mather Group LLC. bought a new position in shares of IDACORP in the first quarter valued at approximately $41,000. State of Wyoming raised 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 valued at $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Cohen & Steers Inc. raised 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 valued at $46,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 1.8 %

IDA stock opened at $93.90 on Monday. IDACORP has a twelve month low of $86.43 and a twelve month high of $112.96. The company has a market cap of $4.76 billion, a PE ratio of 18.27 and a beta of 0.56. The business’s 50-day simple moving average is $90.25 and its 200 day simple moving average is $94.06. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDAGet Free Report) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The business had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same period last year, the business earned $0.83 earnings per share. On average, research analysts anticipate that IDACORP will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 64.59%.

About IDACORP

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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.

Further Reading

Analyst Recommendations for IDACORP (NYSE:IDA)

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