Zacks: IDACORP Inc (IDA) Receives Consensus Rating of “Hold” from Brokerages

IDACORP Inc (NYSE:IDA) has earned an average broker rating score of 3.25 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating and three have given a hold rating 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.

Brokers have set a 1 year consensus price objective of $85.33 for the company and are forecasting 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 208 out of 265 based on the ratings given to related companies.

IDA has been the topic of several analyst reports. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. KeyCorp reissued a “hold” rating on shares of IDACORP in a research report on Friday, October 20th. Zacks Investment Research downgraded IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Bank of America initiated coverage on IDACORP in a research report on Tuesday, January 9th. They issued an “underperform” rating and a $85.00 price objective on the stock.

IDACORP (NYSE IDA) traded up $0.04 during midday trading on Monday, hitting $83.61. The stock had a trading volume of 109,893 shares, compared to its average volume of 316,434. The company has a market cap of $4,211.35, a P/E ratio of 20.31, a P/E/G ratio of 4.93 and a beta of 0.42. The company has a current ratio of 2.03, a quick ratio of 1.53 and a debt-to-equity ratio of 0.78. IDACORP has a 52-week low of $78.37 and a 52-week high of $100.04.

The firm 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 2.82%. The ex-dividend date is Friday, February 2nd. IDACORP’s dividend payout ratio (DPR) is presently 57.42%.

A number of institutional investors have recently made changes to their positions in the business. State of Tennessee Treasury Department bought a new position in IDACORP in the 4th quarter valued at $4,568,000. Citadel Advisors LLC bought a new position in IDACORP in the 4th quarter valued at $289,000. Virtu Financial LLC bought a new position in IDACORP in the 4th quarter valued at $313,000. UBS Asset Management Americas Inc. grew its position in IDACORP by 3.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 35,504 shares of the coal producer’s stock valued at $3,244,000 after acquiring an additional 1,293 shares during the last quarter. Finally, BlackRock Inc. grew its position in IDACORP by 1.5% in the 4th quarter. BlackRock Inc. now owns 7,983,305 shares of the coal producer’s stock valued at $729,356,000 after acquiring an additional 116,636 shares during the last quarter. 75.15% of the stock is currently owned by institutional investors.

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About IDACORP

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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