IDACORP Inc (IDA) Given Average Recommendation of “Hold” by Analysts

IDACORP Inc (NYSE:IDA) has received a consensus broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation.

Brokerages have set a twelve-month consensus target price of $89.00 for the company and are expecting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 193 out of 265 based on the ratings given to its competitors.

Several equities research analysts have commented on the stock. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of IDACORP by 1.0% during the second quarter. Arizona State Retirement System now owns 21,200 shares of the coal producer’s stock worth $1,809,000 after acquiring an additional 200 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IDACORP during the second quarter worth $265,000. Schwab Charles Investment Management Inc. increased its position in shares of IDACORP by 4.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 373,448 shares of the coal producer’s stock worth $31,874,000 after acquiring an additional 17,257 shares in the last quarter. First Trust Advisors LP increased its position in shares of IDACORP by 11.6% during the second quarter. First Trust Advisors LP now owns 250,599 shares of the coal producer’s stock worth $21,389,000 after acquiring an additional 25,991 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of IDACORP by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 110,997 shares of the coal producer’s stock worth $9,474,000 after acquiring an additional 1,108 shares in the last quarter. 75.57% of the stock is owned by institutional investors.

Shares of IDACORP (NYSE IDA) opened at $95.22 on Thursday. IDACORP has a 12 month low of $77.49 and a 12 month high of $100.04. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78. The company has a market cap of $4,875.53, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 5.22 and a beta of 0.55.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, November 2nd. The coal producer reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.14. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. The firm had revenue of $408.32 million during the quarter. During the same period in the previous year, the company posted $1.65 EPS. equities research analysts forecast that IDACORP will post 4.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 6th were given a dividend of $0.59 per share. This is an increase from IDACORP’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.36 annualized dividend and a dividend yield of 2.48%. IDACORP’s dividend payout ratio is currently 57.42%.

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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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