IDACORP (NYSE:IDA) PT Raised to $98.00

IDACORP (NYSE:IDA) had its price objective hoisted by Wells Fargo & Company from $94.00 to $98.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the energy company’s stock.

IDA has been the topic of several other research reports. Mizuho dropped their price target on IDACORP from $99.00 to $88.00 and set a neutral rating on the stock in a research report on Tuesday, March 5th. Morgan Stanley upped their price objective 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. TheStreet lowered shares of IDACORP from a b- rating to a c+ rating in a research note on Thursday, February 15th. Guggenheim lowered IDACORP from a buy rating to a neutral rating and set a $93.00 price objective on the stock. in a report on Monday, January 22nd. Finally, StockNews.com raised IDACORP to a sell rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $94.60.

IDACORP Trading Down 0.1 %

NYSE:IDA opened at $96.15 on Friday. The company has a market capitalization of $4.87 billion, a PE ratio of 19.31 and a beta of 0.55. IDACORP has a 52-week low of $86.43 and a 52-week high of $111.26. The stock’s 50 day moving average price is $91.61 and its 200 day moving average price is $93.96. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The business had revenue of $448.94 million during the quarter, compared to analyst estimates of $441.21 million. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, research analysts anticipate that IDACORP will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is currently 66.67%.

Institutional Trading of IDACORP

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of IDACORP by 19.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after buying an additional 112 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of IDACORP by 0.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company’s stock worth $1,436,000 after purchasing an additional 129 shares in the last quarter. Blue Trust Inc. raised its position in shares of IDACORP by 13.5% during the 4th quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock worth $129,000 after purchasing an additional 164 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in IDACORP by 12.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,529 shares of the energy company’s stock valued at $150,000 after buying an additional 164 shares during the last quarter. Finally, CWM LLC increased its position in IDACORP by 22.2% during the fourth quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after buying an additional 180 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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.