Shares of IDACORP Inc (NYSE:IDA) have received a consensus broker rating score of 3.25 (Hold) from the four brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. IDACORP’s rating score has declined by 8.3% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokerages have set a twelve-month consensus price objective of $85.33 for the company and are forecasting that the company will post $0.66 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 221 out of 265 based on the ratings given to related companies.
A number of research firms recently weighed in on IDA. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. KeyCorp reissued a “hold” rating on shares of IDACORP in a research report on Friday, October 20th. Finally, 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.
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, beating analysts’ consensus estimates 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 period in the previous year, the business earned $1.65 earnings per share. research analysts predict that IDACORP will post 4.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, February 2nd. IDACORP’s dividend payout ratio is 57.42%.
Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its position in IDACORP by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 393,186 shares of the coal producer’s stock worth $34,573,000 after acquiring an additional 19,738 shares during the period. Wells Fargo & Company MN raised its position in IDACORP by 56.6% in the third quarter. Wells Fargo & Company MN now owns 251,720 shares of the coal producer’s stock worth $22,134,000 after acquiring an additional 90,948 shares during the period. California Public Employees Retirement System raised its position in IDACORP by 4.7% in the third quarter. California Public Employees Retirement System now owns 110,358 shares of the coal producer’s stock worth $9,704,000 after acquiring an additional 4,958 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in IDACORP in the second quarter worth about $265,000. Finally, The Manufacturers Life Insurance Company raised its position in IDACORP by 1.0% in 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 during the period. 75.48% of the stock is currently owned by institutional investors and hedge funds.
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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