Morgan Stanley set a $128.00 price target on IDACORP (NYSE:IDA - Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the energy company's stock.
A number of other research analysts have also recently commented on IDA. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Bank of America increased their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Wall Street Zen lowered IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $123.14.
Read Our Latest Stock Report on IDA
IDACORP Price Performance
Shares of IDA stock traded up $0.95 during trading on Thursday, hitting $116.52. The company had a trading volume of 277,782 shares, compared to its average volume of 345,827. 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's 50-day moving average is $115.90 and its two-hundred day moving average is $113.89. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. IDACORP has a 52 week low of $90.64 and a 52 week high of $120.84.
IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period last year, the business earned $0.95 earnings per share. As a group, analysts predict that IDACORP will post 5.81 EPS for the current fiscal year.
IDACORP Dividend Announcement
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 paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 61.10%.
Institutional Trading of IDACORP
Institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the period. Elite Financial Inc. purchased a new stake in IDACORP in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its stake in IDACORP by 621.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after acquiring an additional 230 shares during the period. Opal Wealth Advisors LLC purchased a new stake in IDACORP in the first quarter worth $34,000. Finally, Independence Bank of Kentucky lifted its stake in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.
About IDACORP
(
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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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