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

Shares of IDACORP, Inc. (NYSE:IDA - Get Free Report) have been given a consensus rating of "Hold" by the six brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $107.67.

Several equities research analysts have commented on IDA shares. Bank of America started coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a "neutral" rating and a $110.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of IDACORP in a research report on Friday, September 20th. They set a "hold" rating and a $110.00 target price for the company. Finally, 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 report on Friday.

IDACORP Stock Performance

IDA traded up $2.38 during trading on Friday, hitting $105.86. The stock had a trading volume of 1,243,633 shares, compared to its average volume of 342,061. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market capitalization of $5.64 billion, a P/E ratio of 19.82, a PEG ratio of 3.43 and a beta of 0.60. The company's 50-day moving average price is $102.92 and its 200 day moving average price is $98.25. IDACORP has a twelve month low of $86.43 and a twelve month high of $109.47.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). The company had revenue of $528.53 million for the quarter, compared to analysts' expectations of $524.39 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter in the previous year, the firm posted $2.07 earnings per share. On average, equities research analysts forecast that IDACORP will post 5.39 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.25%. This is a positive change from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio is presently 62.17%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Radnor Capital Management LLC acquired a new position in IDACORP in the 3rd quarter valued at $232,000. Van ECK Associates Corp raised its holdings in IDACORP by 7.0% in the 3rd quarter. Van ECK Associates Corp now owns 14,494 shares of the energy company's stock valued at $1,522,000 after acquiring an additional 954 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in IDACORP by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the energy company's stock valued at $1,916,000 after acquiring an additional 332 shares during the last quarter. F M Investments LLC raised its holdings in IDACORP by 39.1% in the 3rd quarter. F M Investments LLC now owns 78,192 shares of the energy company's stock valued at $8,061,000 after acquiring an additional 21,980 shares during the last quarter. Finally, James Investment Research Inc. raised its holdings in IDACORP by 11.4% in the 3rd quarter. James Investment Research Inc. now owns 4,208 shares of the energy company's stock valued at $434,000 after acquiring an additional 430 shares during the last quarter. 89.10% of the stock is currently 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.