IDACORP, Inc. (NYSE:IDA) Declares $0.75 Quarterly Dividend

IDACORP, Inc. (NYSE:IDAGet Rating) announced a quarterly dividend on Thursday, April 21st, Zacks reports. Shareholders of record on Tuesday, May 3rd will be paid a dividend of 0.75 per share by the energy company on Tuesday, May 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, May 2nd.

IDACORP has a dividend payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings.

Shares of IDA opened at $111.63 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.83 and a quick ratio of 1.54. IDACORP has a 1 year low of $95.26 and a 1 year high of $118.92. The company has a 50 day simple moving average of $110.55 and a two-hundred day simple moving average of $108.54. The firm has a market cap of $5.64 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 5.26 and a beta of 0.55.

IDACORP (NYSE:IDAGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The energy company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). IDACORP had a net margin of 16.84% and a return on equity of 9.32%. The company had revenue of $335.01 million for the quarter, compared to analysts’ expectations of $264.04 million. During the same period last year, the business earned $0.74 earnings per share. On average, sell-side analysts anticipate that IDACORP will post 5 earnings per share for the current year.

IDA has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of IDACORP in a report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho initiated coverage on shares of IDACORP in a report on Thursday, March 10th. They issued a “buy” rating and a $119.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, IDACORP has a consensus rating of “Buy” and an average target price of $111.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its stake in IDACORP by 0.7% during the fourth quarter. Comerica Bank now owns 25,260 shares of the energy company’s stock worth $2,716,000 after buying an additional 169 shares during the period. Allianz Asset Management GmbH boosted its stake in IDACORP by 622.8% during the fourth quarter. Allianz Asset Management GmbH now owns 140,710 shares of the energy company’s stock worth $15,944,000 after buying an additional 121,243 shares during the period. Deutsche Bank AG lifted its position in shares of IDACORP by 151.0% during the fourth quarter. Deutsche Bank AG now owns 61,576 shares of the energy company’s stock worth $6,977,000 after purchasing an additional 37,040 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of IDACORP by 9.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 9,034 shares of the energy company’s stock worth $1,024,000 after purchasing an additional 815 shares during the last quarter. Finally, Amalgamated Bank lifted its position in shares of IDACORP by 0.5% during the fourth quarter. Amalgamated Bank now owns 36,191 shares of the energy company’s stock worth $4,101,000 after purchasing an additional 191 shares during the last quarter. 77.32% of the stock is owned by institutional investors.

About IDACORP (Get Rating)

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.

Further Reading

Dividend History for IDACORP (NYSE:IDA)

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