IDACORP, Inc. (NYSE:IDA) Receives Consensus Rating of "Moderate Buy" from Brokerages

IDACORP, Inc. (NYSE:IDA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $123.57.

Several research firms have commented on IDA. UBS Group increased their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Guggenheim raised their price target on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Bank of America raised their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th.

IDACORP Stock Performance

Shares of IDACORP stock opened at $117.18 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 2.32 and a beta of 0.59. The company's fifty day moving average is $115.91 and its 200 day moving average is $113.70. IDACORP has a twelve month low of $90.64 and a twelve month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. The company 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 in the prior year, the firm earned $0.95 EPS. Sell-side analysts forecast that IDACORP will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is currently 61.10%.

Institutional Trading of IDACORP

Several institutional investors and hedge funds have recently made changes to their positions in IDA. Wellington Management Group LLP raised its position in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after buying an additional 1,035,133 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of IDACORP during the 1st quarter valued at $71,437,000. Reaves W H & Co. Inc. raised its position in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after purchasing an additional 429,276 shares during the period. Raymond James Financial Inc. purchased a new position in IDACORP in the 4th quarter worth $37,104,000. Finally, Ameriprise Financial Inc. raised its position in IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock worth $41,451,000 after purchasing an additional 324,866 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

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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