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
Shares of NYSE:IDA traded down $0.10 during mid-day trading on Thursday, reaching $114.96. The company's stock had a trading volume of 98,690 shares, compared to its average volume of 224,717. The stock has a 50-day moving average of $106.53 and a two-hundred day moving average of $108.24. The stock has a market capitalization of $5.81 billion, a P/E ratio of 24.09, a P/E/G ratio of 8.17 and a beta of 0.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.33 and a current ratio of 1.54. IDACORP has a 1-year low of $95.26 and a 1-year high of $118.92.
IDACORP (NYSE:IDA - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The energy company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business posted $1.38 earnings per share. On average, equities research analysts anticipate that IDACORP will post 5 EPS for the current fiscal year.
IDACORP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 3rd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, August 2nd. IDACORP's dividend payout ratio (DPR) is presently 63.03%.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company upgraded shares of IDACORP from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $108.00 to $110.00 in a research note on Tuesday, May 3rd.