IDACORP (NYSE:IDA) Releases FY22 Earnings Guidance

IDACORP (NYSE:IDAGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.85-$5.05 for the period, compared to the consensus estimate of $4.99.

Shares of NYSE:IDA opened at $106.22 on Friday. The company’s fifty day moving average price is $111.34 and its 200 day moving average price is $108.81. IDACORP has a 12 month low of $95.26 and a 12 month high of $118.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.83 and a quick ratio of 1.54. The firm has a market capitalization of $5.37 billion, a P/E ratio of 21.90, a P/E/G ratio of 4.78 and a beta of 0.58.

IDACORP (NYSE:IDAGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). IDACORP had a return on equity of 9.32% and a net margin of 16.84%. During the same quarter last year, the business earned $0.89 EPS. On average, sell-side analysts anticipate that IDACORP will post 5 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 3rd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 2.82%. IDACORP’s dividend payout ratio is presently 61.86%.

A number of research firms have commented on IDA. Mizuho initiated coverage on shares of IDACORP in a research note on Thursday, March 10th. They issued a buy rating and a $119.00 price objective on the stock. Wells Fargo & Company raised shares of IDACORP from an underweight rating to an equal weight rating and lifted their target price for the company from $108.00 to $110.00 in a report on Tuesday. Finally, StockNews.com initiated coverage on shares of IDACORP in a report on Thursday, March 31st. They issued a hold rating on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of $112.67.

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in IDACORP during the fourth quarter worth about $57,000. Squarepoint Ops LLC raised its position in IDACORP by 53.1% during the fourth quarter. Squarepoint Ops LLC now owns 5,658 shares of the energy company’s stock worth $641,000 after acquiring an additional 1,963 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in IDACORP by 25.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 7,000 shares of the energy company’s stock worth $794,000 after acquiring an additional 1,400 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in 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 acquiring an additional 815 shares during the last quarter. Finally, Stifel Financial Corp raised its position in IDACORP by 8.1% during the fourth quarter. Stifel Financial Corp now owns 13,781 shares of the energy company’s stock worth $1,561,000 after acquiring an additional 1,037 shares during the last quarter. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Company Profile (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.

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