IDACORP, Inc. (NYSE:IDA) Receives $99.80 Average PT from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have issued a report on the stock in the last year is $101.50.

A number of research analysts recently issued reports on IDA shares. Morgan Stanley lifted their price target on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Bank of America began coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.

Institutional Trading of IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in IDACORP in the 2nd quarter valued at $116,000. Sanctuary Advisors LLC purchased a new stake in IDACORP in the 2nd quarter valued at $591,000. Creative Planning raised its position in IDACORP by 97.1% in the 2nd quarter. Creative Planning now owns 15,655 shares of the energy company’s stock valued at $1,458,000 after purchasing an additional 7,712 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in IDACORP by 16.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 63,537 shares of the energy company’s stock valued at $5,918,000 after purchasing an additional 8,769 shares during the last quarter. Finally, Millennium Management LLC raised its position in IDACORP by 34.0% in the 2nd quarter. Millennium Management LLC now owns 201,545 shares of the energy company’s stock valued at $18,774,000 after purchasing an additional 51,178 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.1 %

Shares of IDACORP stock opened at $103.43 on Thursday. IDACORP has a 52-week low of $86.43 and a 52-week high of $105.24. The company has a 50 day moving average of $100.30 and a 200 day moving average of $95.56. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $5.51 billion, a P/E ratio of 20.77 and a beta of 0.60.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The company had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the previous year, the firm earned $1.35 earnings per share. As a group, research analysts forecast that IDACORP will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a dividend of $0.83 per share. The ex-dividend date was Monday, August 5th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. IDACORP’s dividend payout ratio is presently 66.67%.

About IDACORP

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.