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.
IDACORP Trading Down 1.0 %
IDA traded down $1.10 during mid-day trading on Friday, hitting $109.49. The stock had a trading volume of 191,695 shares, compared to its average volume of 159,197. The stock's fifty day simple moving average is $105.78 and its 200-day simple moving average is $107.96. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 7.77 and a beta of 0.56. IDACORP has a 1-year low of $95.26 and a 1-year high of $118.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.87 and a quick ratio of 1.56.
IDACORP (NYSE:IDA - Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The energy company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.04). IDACORP had a return on equity of 9.01% and a net margin of 16.25%. During the same period last year, the company posted $1.38 EPS. As a group, research analysts forecast that IDACORP will post 5 EPS for the current fiscal year.
IDACORP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 3rd will be given a $0.75 dividend. The ex-dividend date is Tuesday, August 2nd. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. IDACORP's dividend payout ratio is presently 63.03%.
Analyst Ratings Changes
Separately, Wells Fargo & Company upgraded shares of IDACORP from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $108.00 to $110.00 in a research report on Tuesday, May 3rd.