Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 323,964 shares traded hands during trading, a decline of 7% from the previous session's volume of 347,321 shares.The stock last traded at $116.44 and had previously closed at $117.56.
Analyst Ratings Changes
Several equities research analysts recently commented on IDA shares. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted 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. Guggenheim increased their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $123.14.
Read Our Latest Analysis on IDACORP
IDACORP Price Performance
The company has a market capitalization of $6.43 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm's 50-day moving average is $116.16 and its 200-day moving average is $113.91.
IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period last year, the firm earned $0.95 EPS. Analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Announces Dividend
The company also recently announced 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 annualized dividend and a yield of 2.89%. The ex-dividend date was Monday, May 5th. IDACORP's dividend payout ratio is 61.10%.
Hedge Funds Weigh In On IDACORP
A number of hedge funds have recently modified their holdings of IDA. Elite Financial Inc. bought a new stake in IDACORP during the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its stake in IDACORP by 621.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after purchasing an additional 230 shares during the period. Opal Wealth Advisors LLC purchased a new position in IDACORP in the 1st quarter worth approximately $34,000. Independence Bank of Kentucky boosted its stake in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in IDACORP during the 4th quarter valued at approximately $45,000. 89.10% of the stock is currently owned by institutional investors.
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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