IDACORP, Inc. (NYSE:IDA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have received a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $93.80.

A number of equities research analysts recently issued reports on the company. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 22nd. Wells Fargo & Company lowered their price objective 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. Morgan Stanley increased their price objective on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, Mizuho lowered their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th.

IDACORP Price Performance

IDACORP stock opened at $92.40 on Thursday. IDACORP has a one year low of $86.43 and a one year high of $112.96. The business has a fifty day moving average price of $90.28 and a 200-day moving average price of $94.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The firm has a market capitalization of $4.68 billion, a P/E ratio of 17.98, a PEG ratio of 3.89 and a beta of 0.55.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 EPS 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 firm had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. During the same period last year, the company earned $0.83 earnings per share. As a group, equities research analysts forecast that IDACORP will post 5.32 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.59%. IDACORP’s dividend payout ratio (DPR) is currently 64.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its stake in shares of IDACORP by 297.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,572 shares of the energy company’s stock valued at $3,332,000 after buying an additional 26,626 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of IDACORP in the second quarter worth about $777,000. Invesco Ltd. grew its stake in shares of IDACORP by 10.3% in the third quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock worth $26,100,000 after purchasing an additional 26,068 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of IDACORP by 10.8% in the third quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock worth $43,703,000 after purchasing an additional 45,585 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of IDACORP by 216.8% in the third quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock worth $1,147,000 after purchasing an additional 8,384 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

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.