IDACORP, Inc. (NYSE:IDA) Given Average Rating of “Hold” by Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $93.80.

A number of equities research analysts have issued reports on IDA shares. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, January 22nd. TheStreet cut IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Morgan Stanley increased their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Wells Fargo & Company reduced their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Finally, Mizuho decreased their price objective on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th.

IDACORP Price Performance

IDA opened at $90.22 on Monday. IDACORP has a 1 year low of $86.43 and a 1 year high of $112.96. The company’s 50 day simple moving average is $90.07 and its 200 day simple moving average is $94.10. The stock has a market capitalization of $4.57 billion, a PE ratio of 17.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter last year, the firm posted $0.83 earnings per share. As a group, sell-side analysts expect that IDACORP will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, February 2nd. IDACORP’s dividend payout ratio is presently 64.59%.

Institutional Trading of IDACORP

Hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky boosted its holdings in IDACORP by 297.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,572 shares of the energy company’s stock valued at $3,332,000 after purchasing an additional 26,626 shares during the last quarter. Trexquant Investment LP raised its position in shares of IDACORP by 545.1% during the 3rd quarter. Trexquant Investment LP now owns 48,869 shares of the energy company’s stock worth $4,577,000 after purchasing an additional 41,293 shares during the period. Invesco Ltd. boosted its position in IDACORP by 10.3% during the 3rd quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock valued at $26,100,000 after purchasing an additional 26,068 shares during the period. William Blair Investment Management LLC grew its position in shares of IDACORP by 10.8% during the third quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock worth $43,703,000 after acquiring an additional 45,585 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its position in IDACORP by 216.8% in the 3rd quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock valued at $1,147,000 after purchasing an additional 8,384 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

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.