IDACORP, Inc. (NYSE:IDA) Receives Consensus Rating of "Moderate Buy" from Analysts

IDACORP, Inc. (NYSE:IDA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $120.50.

A number of research firms have commented on IDA. UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday. Bank of America upped their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Morgan Stanley increased their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Finally, Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd.

IDACORP Stock Performance

Shares of IDACORP stock traded up $0.75 on Monday, reaching $119.83. 506,622 shares of the stock were exchanged, compared to its average volume of 326,232. The firm has a market capitalization of $6.47 billion, a PE ratio of 21.87, a PEG ratio of 2.32 and a beta of 0.59. IDACORP has a 1-year low of $88.70 and a 1-year high of $120.84. The business has a fifty day moving average price of $113.49 and a two-hundred day moving average price of $110.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

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

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.87%. IDACORP's dividend payout ratio (DPR) is 62.77%.

Institutional Investors Weigh In On IDACORP

Large investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP in the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB raised its stake in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc lifted its holdings in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of IDACORP during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 89.10% of the company's stock.

About IDACORP

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.