Brokerages Set IDACORP, Inc. (NYSE:IDA) PT at $111.00

IDACORP, Inc. (NYSE:IDA) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $111.00.

Several analysts have recently commented on IDA shares. Wells Fargo & Company increased their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st.

Institutional Investors Weigh In On IDACORP

Several large investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new stake in IDACORP in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in shares of IDACORP in the third quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB raised its position in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc lifted its stake in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after buying an additional 301 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in IDACORP in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.1 %

IDA stock opened at $110.33 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The stock’s 50 day simple moving average is $113.01 and its 200 day simple moving average is $105.52. The company has a market cap of $5.88 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 2.19 and a beta of 0.65.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the prior year, the business earned $2.07 earnings per share. On average, research analysts expect that IDACORP will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.12%. IDACORP’s payout ratio is currently 63.82%.

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.