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

IDACORP, Inc. (NYSE:IDAGet Free Report) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $97.40.

A number of analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of IDACORP from $96.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research note on Friday, April 26th. Wells Fargo & Company lifted their target price on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Mizuho lifted their target price on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th.

Check Out Our Latest Stock Analysis on IDACORP

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $156,898.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDACORP

A number of hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of IDACORP in the third quarter worth $40,000. Mather Group LLC. purchased a new position in shares of IDACORP in the first quarter worth $41,000. Northwest Financial Advisors purchased a new position in shares of IDACORP in the fourth quarter worth $52,000. Kapitalo Investimentos Ltda purchased a new position in shares of IDACORP in the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after buying an additional 112 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

NYSE IDA opened at $91.98 on Tuesday. IDACORP has a 52-week low of $86.43 and a 52-week high of $106.69. The company has a 50-day simple moving average of $94.44 and a 200 day simple moving average of $93.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. The company has a market capitalization of $4.90 billion, a PE ratio of 18.47 and a beta of 0.57.

IDACORP (NYSE:IDAGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). IDACORP had a return on equity of 8.71% and a net margin of 14.18%. The company had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. During the same quarter last year, the business posted $1.11 EPS. On average, research analysts predict that IDACORP will post 5.35 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.61%. IDACORP’s dividend payout ratio is currently 66.67%.

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.

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Analyst Recommendations for IDACORP (NYSE:IDA)

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