Brokerages Set IDACORP, Inc. (NYSE:IDA) PT at $111.00

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have received an average recommendation of "Hold" from the six ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $111.00.

Several equities analysts recently issued reports on IDA shares. Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Jefferies Financial Group initiated coverage on IDACORP in a report on Friday, September 20th. They issued a "hold" rating and a $110.00 price objective on the stock. Wells Fargo & Company lifted their target price on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th.

IDACORP Stock Down 0.2 %

Shares of NYSE:IDA traded down $0.22 during trading on Friday, reaching $108.78. The stock had a trading volume of 848,644 shares, compared to its average volume of 348,645. The firm's 50-day simple moving average is $111.45 and its 200 day simple moving average is $102.90. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP has a one year low of $86.43 and a one year high of $120.42. The company has a market capitalization of $5.79 billion, a P/E ratio of 20.18, a PEG ratio of 2.51 and a beta of 0.64.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period in the previous year, the business earned $2.07 EPS. As a group, research analysts expect that IDACORP will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a $0.86 dividend. The ex-dividend date was Tuesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 3.16%. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

Hedge Funds Weigh In On IDACORP

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC boosted its stake in IDACORP by 42.5% in the third quarter. Algert Global LLC now owns 35,383 shares of the energy company's stock valued at $3,648,000 after acquiring an additional 10,550 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of IDACORP in the 2nd quarter valued at about $1,833,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company's stock worth $4,918,000 after buying an additional 19,274 shares during the last quarter. GSA Capital Partners LLP acquired a new position in IDACORP during the third quarter worth approximately $3,228,000. Finally, XTX Topco Ltd purchased a new stake in IDACORP in the second quarter valued at approximately $577,000. 89.10% of the stock is owned by institutional investors and hedge funds.

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.