IDACORP Inc (IDA) Plans Quarterly Dividend of $0.59

IDACORP Inc (NYSE:IDA) declared a quarterly dividend on Thursday, January 18th, RTT News reports. Investors of record on Monday, February 5th will be paid a dividend of 0.59 per share by the coal producer on Wednesday, February 28th. This represents a $2.36 annualized dividend and a dividend yield of 2.82%.

IDACORP has raised its dividend by an average of 8.4% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. IDACORP has a dividend payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Analysts expect IDACORP to earn $4.16 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 56.7%.

IDACORP (NYSE IDA) traded down $0.62 during trading hours on Thursday, reaching $83.71. The company’s stock had a trading volume of 366,640 shares, compared to its average volume of 356,325. IDACORP has a 52-week low of $78.05 and a 52-week high of $100.04. The company has a current ratio of 2.03, a quick ratio of 1.53 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4,220.00, a P/E ratio of 20.42, a P/E/G ratio of 4.91 and a beta of 0.55.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.14. IDACORP had a return on equity of 9.44% and a net margin of 15.46%. The firm had revenue of $408.32 million during the quarter. During the same period last year, the company earned $1.65 EPS. research analysts forecast that IDACORP will post 4.11 EPS for the current year.

IDA has been the subject of a number of recent research reports. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Bank of America initiated coverage on IDACORP in a research report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price target for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $91.00.

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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.

Dividend History for IDACORP (NYSE:IDA)

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