IDACORP, Inc. (NYSE:IDA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $137.6667.

IDA has been the subject of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $156.00 price target on shares of IDACORP in a research note on Friday, January 30th. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Jefferies Financial Group dropped their price objective on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. Finally, UBS Group lowered their price objective on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th.

Institutional Investors Weigh In On IDACORP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV grew its stake in IDACORP by 25.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,828 shares of the energy company’s stock worth $611,000 after buying an additional 990 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in IDACORP by 7.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,589 shares of the energy company’s stock worth $328,000 after acquiring an additional 189 shares during the period. State of Tennessee Department of Treasury increased its holdings in IDACORP by 18.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 21,505 shares of the energy company’s stock valued at $2,856,000 after buying an additional 3,329 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of IDACORP in the fourth quarter valued at $2,254,000. Finally, Zimmer Partners LP increased its stake in shares of IDACORP by 48.9% during the 4th quarter. Zimmer Partners LP now owns 800,492 shares of the energy company’s stock worth $101,310,000 after purchasing an additional 262,992 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE:IDA opened at $141.47 on Thursday. The firm has a fifty day moving average price of $131.55 and a 200 day moving average price of $129.76. IDACORP has a fifty-two week low of $108.15 and a fifty-two week high of $145.94. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 2.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be paid a $0.88 dividend. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s payout ratio is 60.48%.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.