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. As of December 31, 2021, it had approximately 4,843 pole-miles of high-voltage transmission lines; 23 step-up transmission substations located at power plants; 21 transmission substations; 10 switching stations; 30 mixed-use transmission and distribution substations; 187 energized distribution substations; and 28,570 pole-miles of distribution lines, as well as provides electric utility services to approximately 604,000 retail customers in southern Idaho and eastern Oregon. The company serves commercial and industrial customers, which involved in food processing, electronics and general manufacturing, agriculture, health care, government, and education. It also invests in housing and other real estate tax credit investments. IDACORP, Inc. was founded in 1915 and is headquartered in Boise, Idaho.
Analyst Ratings Changes
Separately, Wells Fargo & Company upgraded shares of IDACORP from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $108.00 to $110.00 in a research report on Tuesday, May 3rd.
IDACORP Trading Up 1.5 %
Shares of NYSE:IDA traded up $1.67 during mid-day trading on Tuesday, reaching $112.18. The company had a trading volume of 167,684 shares, compared to its average volume of 228,277. The business's 50-day moving average is $105.79 and its 200-day moving average is $107.96. The company has a current ratio of 1.54, a quick ratio of 1.33 and a debt-to-equity ratio of 0.76. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 7.77 and a beta of 0.57. IDACORP has a 52 week low of $95.26 and a 52 week high of $118.92.
IDACORP (NYSE:IDA - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The energy company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.31 by ($0.04). IDACORP had a return on equity of 8.98% and a net margin of 16.25%. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Equities analysts expect that IDACORP will post 5 earnings per share for the current year.
IDACORP Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 3rd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, August 2nd. IDACORP's payout ratio is presently 63.03%.