Analysts Set IDACORP, Inc. (NYSE:IDA) Target Price at $122.86

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $122.86.

Several research analysts recently commented on the stock. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Guggenheim raised their price target on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd.

IDACORP Price Performance

IDA stock traded up $0.86 during trading on Wednesday, hitting $118.26. 68,504 shares of the company's stock traded hands, compared to its average volume of 408,208. IDACORP has a 52 week low of $93.16 and a 52 week high of $120.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81. The business has a fifty day simple moving average of $115.28 and a 200 day simple moving average of $113.85. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.45 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same quarter last year, the business earned $0.95 EPS. As a group, research analysts expect that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, May 5th. IDACORP's payout ratio is 61.10%.

Institutional Trading of IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP lifted its stake in IDACORP by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company's stock valued at $410,970,000 after acquiring an additional 111,182 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in IDACORP by 10.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock valued at $245,243,000 after acquiring an additional 200,465 shares during the period. Alliancebernstein L.P. lifted its stake in IDACORP by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company's stock valued at $161,728,000 after acquiring an additional 12,156 shares during the period. Finally, Reaves W H & Co. Inc. lifted its stake in IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after acquiring an additional 249,542 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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.