Analysts Set $86.00 Price Target for IDACORP, Inc. (IDA)
Shares of IDACORP, Inc. (NYSE:IDA) have been assigned an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold rating.
Brokers have set a 12-month consensus price target of $86.00 for the company and are anticipating that the company will post $1.69 EPS for the current quarter, according to Zacks. Zacks has also given IDACORP an industry rank of 105 out of 265 based on the ratings given to its competitors.
A number of research firms have weighed in on IDA. KeyCorp reissued a “hold” rating on shares of IDACORP in a report on Friday, September 1st. BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Thursday, July 27th.
Shares of IDACORP (NYSE:IDA) traded up 0.36% during mid-day trading on Thursday, reaching $89.82. 65,671 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $88.10 and a 200-day moving average price of $85.60. The stock has a market cap of $4.53 billion, a PE ratio of 22.69 and a beta of 0.51. IDACORP has a 12 month low of $72.93 and a 12 month high of $91.98.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.07). The company had revenue of $333.01 million for the quarter. IDACORP had a net margin of 15.31% and a return on equity of 9.20%. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, analysts predict that IDACORP will post $4.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, August 4th. IDACORP’s payout ratio is 55.56%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in IDACORP by 0.5% during the 2nd quarter. BlackRock Inc. now owns 7,852,408 shares of the coal producer’s stock worth $670,203,000 after acquiring an additional 42,058 shares during the last quarter. Vanguard Group Inc. grew its holdings in IDACORP by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,644,039 shares of the coal producer’s stock worth $396,368,000 after acquiring an additional 64,740 shares during the last quarter. State Street Corp grew its holdings in IDACORP by 3.4% during the 2nd quarter. State Street Corp now owns 1,773,322 shares of the coal producer’s stock worth $151,353,000 after acquiring an additional 58,673 shares during the last quarter. Northern Trust Corp grew its holdings in IDACORP by 0.9% during the 2nd quarter. Northern Trust Corp now owns 1,519,093 shares of the coal producer’s stock worth $129,655,000 after acquiring an additional 12,984 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in IDACORP by 8.2% during the 1st quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock worth $86,828,000 after acquiring an additional 79,517 shares during the last quarter. 75.95% of the stock is currently owned by hedge funds and other institutional investors.
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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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