IDACORP, Inc. (NYSE:IDA) Receives $96.40 Consensus Price Target from Analysts

IDACORP, Inc. (NYSE:IDA) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $96.40.

Several analysts have recently weighed in on the stock. StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday, April 26th. Mizuho boosted their price objective on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Morgan Stanley decreased their price objective on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd.

IDACORP Stock Down 0.1 %

Shares of NYSE:IDA opened at $92.22 on Friday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 18.52 and a beta of 0.58. The firm’s 50-day simple moving average is $94.31 and its 200-day simple moving average is $93.08. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $106.33.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The firm had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a net margin of 14.18% and a return on equity of 8.71%. During the same period in the previous year, the firm earned $1.11 EPS. As a group, equities research analysts predict that IDACORP will post 5.36 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Friday, May 3rd. IDACORP’s dividend payout ratio is currently 66.67%.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total transaction of $142,635.00. Following the completion of the transaction, the vice president now owns 1,650 shares in the company, valued at $156,898.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDACORP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in IDACORP by 18.3% during the first quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock worth $77,000 after acquiring an additional 126 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of IDACORP by 25.1% in the first quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company’s stock valued at $23,821,000 after buying an additional 51,521 shares during the last quarter. Aurora Investment Counsel raised its position in shares of IDACORP by 20.2% in the first quarter. Aurora Investment Counsel now owns 8,403 shares of the energy company’s stock valued at $781,000 after buying an additional 1,413 shares during the last quarter. Atria Investments Inc acquired a new position in shares of IDACORP in the first quarter valued at approximately $1,023,000. Finally, Tidal Investments LLC raised its position in shares of IDACORP by 120.6% in the first quarter. Tidal Investments LLC now owns 9,341 shares of the energy company’s stock valued at $867,000 after buying an additional 5,106 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.