IDACORP, Inc. (NYSE:IDA) Receives $118.20 Average Price Target from Brokerages

IDACORP, Inc. (NYSE:IDA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $118.20.

A number of equities research analysts have recently commented on IDA shares. Morgan Stanley increased their target price on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Jefferies Financial Group dropped their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Bank of America increased their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP lifted its holdings in IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after acquiring an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in IDACORP by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after acquiring an additional 166,864 shares during the period. State Street Corp lifted its holdings in IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock valued at $170,789,000 after acquiring an additional 86,642 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of IDACORP by 2.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after buying an additional 29,094 shares during the period. Institutional investors own 89.10% of the company's stock.

Remove Ads

IDACORP Stock Up 0.6 %

Shares of NYSE IDA traded up $0.71 during trading on Thursday, reaching $113.14. The company had a trading volume of 424,464 shares, compared to its average volume of 310,824. IDACORP has a 12-month low of $88.67 and a 12-month high of $120.42. The stock has a market cap of $6.11 billion, a PE ratio of 20.65, a P/E/G ratio of 2.32 and a beta of 0.59. The business's 50-day moving average is $110.90 and its 200 day moving average is $108.89. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. As a group, equities analysts forecast that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio is 62.77%.

IDACORP Company Profile

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.