IDACORP, Inc. (NYSE:IDA) Declares Quarterly Dividend of $0.88

Key Points

• IDACORP, Inc. declared a quarterly dividend of $0.88 per share, with a yield of 2.8%, to be paid to shareholders of record on January 1st.
• The company has a payout ratio of 54.2%, indicating that its dividend is well-covered by earnings, with expected earnings of $6.47 per share next year.
• IDACORP's stock has a recent price target of $133.00 set by Morgan Stanley, with the stock currently rated as a "Moderate Buy" by analysts.

IDACORP, Inc. (NYSE:IDA - Get Free Report) declared a quarterly dividend on Friday, September 19th, RTT News reports. Stockholders of record on Saturday, January 1st will be paid a dividend of 0.88 per share by the energy company on Saturday, January 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%.

IDACORP has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect IDACORP to earn $6.47 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 53.2%.

IDACORP Stock Up 0.2%

Shares of IDACORP stock traded up $0.20 during trading on Friday, reaching $125.81. 888,460 shares of the company traded hands, compared to its average volume of 301,582. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. IDACORP has a 1-year low of $99.81 and a 1-year high of $128.50. The company has a 50 day moving average price of $124.34 and a 200-day moving average price of $118.68. The firm has a market capitalization of $6.80 billion, a PE ratio of 22.15, a P/E/G ratio of 2.63 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting analysts' consensus estimates of $1.76. The business had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter in the previous year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities research analysts expect that IDACORP will post 5.81 earnings per share for the current fiscal year.

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.