IDACORP, Inc. (NYSE:IDA) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $116.20.

Several research firms have weighed in on IDA. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Mizuho upgraded shares of IDACORP from a "neutral" rating to an "outperform" rating and increased their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America raised 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 report on Tuesday, November 5th. Finally, Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd.

Institutional Trading of IDACORP

Institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in shares of IDACORP during the fourth quarter worth $704,000. Algert Global LLC raised its stake in IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company's stock worth $3,648,000 after purchasing an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company's stock valued at $4,918,000 after purchasing an additional 19,274 shares during the period. GSA Capital Partners LLP bought a new stake in IDACORP in the 3rd quarter valued at about $3,228,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company's stock worth $71,368,000 after purchasing an additional 35,651 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Up 0.0 %

NYSE:IDA traded up $0.03 on Friday, hitting $111.41. 169,141 shares of the company's stock were exchanged, compared to its average volume of 282,923. The company has a market cap of $5.93 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65. The firm has a 50-day moving average price of $110.32 and a 200-day moving average price of $107.38. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.09%. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

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.