IDACORP, Inc. (NYSE:IDA) Plans Quarterly Dividend of $0.86

IDACORP, Inc. (NYSE:IDA - Get Free Report) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.86 per share by the energy company on Monday, December 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 3.31%. This is a positive change from IDACORP's previous quarterly dividend of $0.83.

IDACORP has increased its dividend payment by an average of 5.6% per year over the last three years and has raised its dividend every year for the last 12 years. IDACORP has a dividend payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect IDACORP to earn $5.77 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 57.5%.

IDACORP Trading Down 0.6 %

Shares of NYSE:IDA traded down $0.64 during midday trading on Thursday, reaching $103.83. The company's stock had a trading volume of 227,268 shares, compared to its average volume of 341,791. IDACORP has a fifty-two week low of $86.43 and a fifty-two week high of $105.24. 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 50 day moving average price of $102.48 and a two-hundred day moving average price of $97.28. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 3.38 and a beta of 0.60.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The business had revenue of $451.04 million during the quarter, compared to analysts' expectations of $420.56 million. During the same period last year, the company posted $1.35 earnings per share. As a group, analysts forecast that IDACORP will post 5.39 earnings per share for the current year.

Analysts Set New Price Targets

IDA has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They set a "hold" rating and a $110.00 price objective on the stock. Bank of America initiated coverage on shares of IDACORP in a research report on Thursday, September 12th. They issued a "neutral" rating and a $110.00 price objective for the company. Morgan Stanley lifted their target price 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. Finally, Wells Fargo & Company upped their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, IDACORP has a consensus rating of "Hold" and an average price target of $104.00.

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.

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