IDACORP, Inc. (NYSE:IDA) Short Interest Update

IDACORP, Inc. (NYSE:IDA - Get Free Report) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,270,000 shares, an increase of 17.6% from the February 29th total of 1,080,000 shares. Based on an average trading volume of 366,800 shares, the days-to-cover ratio is currently 3.5 days. Currently, 2.5% of the shares of the company are short sold.

IDACORP Price Performance

Shares of IDACORP stock traded up $0.45 during trading hours on Friday, hitting $92.89. The company's stock had a trading volume of 258,364 shares, compared to its average volume of 482,234. The company has a market cap of $4.70 billion, a PE ratio of 18.07, a PEG ratio of 3.99 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The business has a 50 day moving average price of $90.30 and a two-hundred day moving average price of $94.47. IDACORP has a 12-month low of $86.43 and a 12-month high of $112.96.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. During the same period in the prior year, the company posted $0.83 EPS. Analysts expect that IDACORP will post 5.32 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 3.57%. IDACORP's dividend payout ratio is currently 64.59%.

Analysts Set New Price Targets

Several analysts recently issued reports on IDA shares. Wells Fargo & Company cut their target price on shares of IDACORP from $100.00 to $94.00 and set an "equal weight" rating for the company in a research report on Friday, February 16th. Morgan Stanley raised their target price on IDACORP from $92.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, March 21st. Guggenheim cut IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 price target for the company. in a research report on Monday, January 22nd. Mizuho lowered their price objective on IDACORP from $99.00 to $88.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 5th. Finally, TheStreet downgraded IDACORP from a "b-" rating to a "c+" rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, IDACORP presently has an average rating of "Hold" and an average price target of $93.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDA. Chilton Capital Management LLC purchased a new position in shares of IDACORP in the first quarter valued at $25,000. Headlands Technologies LLC purchased a new position in shares of IDACORP in the 3rd quarter worth $40,000. State of Wyoming increased its holdings in shares of IDACORP by 34.4% in the 2nd quarter. State of Wyoming now owns 426 shares of the energy company's stock worth $44,000 after buying an additional 109 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of IDACORP by 33.8% in the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company's stock worth $46,000 after buying an additional 101 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of IDACORP during the 4th quarter valued at about $50,000. 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.