Shares of IDACORP Inc (NYSE:IDA) have earned a consensus broker rating score of 3.25 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. IDACORP’s rating score has declined by 8.3% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 12 month consensus target price of $85.33 for the company and are predicting that the company will post $0.66 earnings per share for the current quarter, according to Zacks. Zacks has also given IDACORP an industry rank of 215 out of 265 based on the ratings given to its competitors.
Several brokerages recently issued reports on IDA. Bank of America began coverage on shares of IDACORP in a research report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price target on the stock. Zacks Investment Research downgraded shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, KeyCorp reiterated a “hold” rating on shares of IDACORP in a research report on Friday, October 20th.
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 company had revenue of $408.32 million for the quarter. During the same quarter in the prior year, the firm posted $1.65 EPS. sell-side analysts expect that IDACORP will post 4.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Monday, February 5th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $2.36 annualized dividend and a yield of 2.74%. IDACORP’s dividend payout ratio (DPR) is 57.42%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation bought a new stake in IDACORP during the 3rd quarter worth about $104,000. Advisor Group Inc. raised its holdings in IDACORP by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after purchasing an additional 111 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in IDACORP by 77.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock worth $182,000 after purchasing an additional 930 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID bought a new stake in IDACORP during the 4th quarter worth about $204,000. Finally, Vident Investment Advisory LLC bought a new stake in IDACORP during the 3rd quarter worth about $205,000. Institutional investors and hedge funds own 75.56% of the company’s stock.
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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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