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 Price Performance
NYSE:IDA traded up $0.28 during midday trading on Wednesday, hitting $112.46. 220,134 shares of the stock were exchanged, compared to its average volume of 228,223. IDACORP has a one year low of $95.26 and a one year high of $118.92. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 7.77 and a beta of 0.57. The business has a 50-day moving average price of $105.85 and a two-hundred day moving average price of $107.99. The company has a current ratio of 1.54, a quick ratio of 1.33 and a debt-to-equity ratio of 0.76.
IDACORP (NYSE:IDA - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The energy company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.04). IDACORP had a net margin of 16.25% and a return on equity of 8.98%. During the same period in the prior year, the firm posted $1.38 earnings per share. Sell-side analysts predict that IDACORP will post 5 EPS for the current year.
IDACORP Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 3rd will be issued a $0.75 dividend. The ex-dividend date is Tuesday, August 2nd. This represents a $3.00 annualized dividend and a dividend yield of 2.67%. IDACORP's dividend payout ratio is currently 63.03%.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company raised IDACORP from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $108.00 to $110.00 in a report on Tuesday, May 3rd.