IDACORP, Inc. (IDA) Given Average Recommendation of “Hold” by Analysts
Shares of IDACORP, Inc. (NYSE:IDA) have earned a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Brokers have set a 12-month consensus target price of $89.00 for the company and are expecting that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 194 out of 265 based on the ratings given to related companies.
IDA has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. KeyCorp restated a “hold” rating on shares of IDACORP in a research report on Friday, October 20th. BidaskClub upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th.
Several institutional investors and hedge funds have recently made changes to their positions in IDA. OppenheimerFunds Inc. increased its holdings in shares of IDACORP by 44.6% in the 1st quarter. OppenheimerFunds Inc. now owns 4,770 shares of the coal producer’s stock valued at $395,000 after purchasing an additional 1,472 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of IDACORP by 3.1% in the 1st quarter. Teachers Advisors LLC now owns 85,937 shares of the coal producer’s stock valued at $7,129,000 after purchasing an additional 2,572 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of IDACORP by 10.0% in the 1st quarter. Bank of America Corp DE now owns 97,443 shares of the coal producer’s stock valued at $8,083,000 after purchasing an additional 8,888 shares in the last quarter. Capstone Asset Management Co. increased its holdings in shares of IDACORP by 1.6% in the 2nd quarter. Capstone Asset Management Co. now owns 3,872 shares of the coal producer’s stock valued at $330,000 after purchasing an additional 60 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its holdings in shares of IDACORP by 8.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 21,595 shares of the coal producer’s stock valued at $1,843,000 after purchasing an additional 1,640 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.
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Shares of IDACORP (IDA) traded up $0.76 during trading on Tuesday, reaching $95.93. 248,900 shares of the company’s stock were exchanged, compared to its average volume of 188,331. The stock has a market cap of $4,795.90, a P/E ratio of 23.16, a P/E/G ratio of 5.13 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.53 and a current ratio of 2.03. IDACORP has a 52 week low of $74.27 and a 52 week high of $96.14.
IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, November 2nd. The coal producer reported $1.80 EPS for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.14. The company had revenue of $408.32 million during the quarter. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. During the same quarter in the previous year, the company posted $1.65 EPS. equities analysts anticipate that IDACORP will post 4.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 6th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, November 3rd. This is an increase from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s dividend payout ratio (DPR) is currently 57.42%.
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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