IDACORP, Inc. (IDA) Given Average Rating of “Hold” by Analysts
IDACORP, Inc. (NYSE:IDA) has received an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus target price of $85.50 for the company and are anticipating that the company will post $1.07 earnings per share for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 125 out of 265 based on the ratings given to related companies.
Several equities research analysts have issued reports on IDA shares. Zacks Investment Research upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub downgraded shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Friday, June 30th.
IDACORP (NYSE IDA) traded up 0.227% during trading on Friday, reaching $84.191. The company’s stock had a trading volume of 17,939 shares. The firm’s 50-day moving average is $86.97 and its 200-day moving average is $82.92. IDACORP has a 52-week low of $72.93 and a 52-week high of $90.67. The stock has a market cap of $4.24 billion, a P/E ratio of 20.595 and a beta of 0.51.
IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, May 4th. The coal producer reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. The firm had revenue of $302.54 million during the quarter. IDACORP had a net margin of 16.02% and a return on equity of 9.60%. During the same quarter last year, the business earned $0.51 earnings per share. Equities research analysts forecast that IDACORP will post $4.00 EPS for the current year.
In other news, VP Lisa A. Grow sold 1,200 shares of IDACORP stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total value of $106,344.00. Following the completion of the sale, the vice president now directly owns 17,248 shares in the company, valued at $1,528,517.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in IDACORP by 6.8% in the second quarter. State of Alaska Department of Revenue now owns 3,623 shares of the coal producer’s stock worth $309,000 after buying an additional 230 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in IDACORP by 8.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 21,595 shares of the coal producer’s stock worth $1,843,000 after buying an additional 1,640 shares during the last quarter. Capstone Asset Management Co. increased its stake in IDACORP by 1.6% in the second quarter. Capstone Asset Management Co. now owns 3,872 shares of the coal producer’s stock worth $330,000 after buying an additional 60 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in IDACORP by 0.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 79,959 shares of the coal producer’s stock worth $6,633,000 after buying an additional 367 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in IDACORP during the first quarter worth $209,000. Institutional investors own 78.49% of the company’s stock.
IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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