IDACORP, Inc. (NYSE:IDA) Given Average Rating of "Moderate Buy" by Analysts

IDACORP, Inc. (NYSE:IDA - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $122.86.

IDA has been the topic of several research analyst reports. Wall Street Zen cut IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company increased their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Bank of America lifted their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, UBS Group dropped their target price on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, June 2nd.

IDACORP Stock Performance

Shares of IDA stock opened at $113.85 on Friday. The company has a market capitalization of $6.15 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.32 and a beta of 0.58. IDACORP has a 12-month low of $90.64 and a 12-month high of $120.84. The business's 50 day moving average is $116.13 and its two-hundred day moving average is $113.76. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same quarter last year, the company earned $0.95 EPS. Analysts expect that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's dividend payout ratio is currently 61.10%.

Hedge Funds Weigh In On IDACORP

A number of institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of IDACORP during the 1st quarter worth approximately $8,146,000. Acadian Asset Management LLC increased its stake in IDACORP by 9.6% during the first quarter. Acadian Asset Management LLC now owns 38,704 shares of the energy company's stock worth $4,496,000 after acquiring an additional 3,395 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in IDACORP by 104.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,073 shares of the energy company's stock worth $125,000 after acquiring an additional 549 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock valued at $16,698,000 after purchasing an additional 10,855 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of IDACORP in the 1st quarter valued at $385,000. 89.10% of the stock is owned by hedge funds and other 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.

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