IDACORP (NYSE:IDA) Given Neutral Rating at UBS Group

UBS Group reaffirmed their neutral rating on shares of IDACORP (NYSE:IDA - Free Report) in a research report sent to investors on Friday, Marketbeat reports. The brokerage currently has a $120.00 price objective on the energy company's stock, up from their previous price objective of $118.00.

Several other analysts have also recently commented on IDA. Wall Street Zen cut shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Guggenheim boosted 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. Wells Fargo & Company raised their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, IDACORP presently has a consensus rating of "Hold" and an average price target of $122.86.

IDACORP Price Performance

IDA traded up $0.69 during trading on Friday, hitting $118.27. The company's stock had a trading volume of 493,240 shares, compared to its average volume of 369,447. The firm's 50 day moving average price is $115.32 and its two-hundred day moving average price is $114.00. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 1.03. IDACORP has a 12 month low of $93.16 and a 12 month high of $120.84. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.49 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The business had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts forecast that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were given 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 dividend payout ratio (DPR) is currently 61.10%.

Institutional Investors Weigh In On IDACORP

Hedge funds have recently bought and sold shares of the company. KBC Group NV lifted its stake in IDACORP by 21.2% in the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company's stock valued at $273,000 after purchasing an additional 411 shares during the last quarter. GAMMA Investing LLC lifted its holdings in IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after purchasing an additional 127 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in IDACORP by 7.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock valued at $765,000 after purchasing an additional 456 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in IDACORP by 103.0% during the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after purchasing an additional 4,305 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in IDACORP by 318.9% during the 1st quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company's stock valued at $163,000 after purchasing an additional 1,065 shares during the last quarter. 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.