IDACORP Inc (NYSE:IDA) Announces Dividend Increase – $0.71 Per Share

IDACORP Inc (NYSE:IDA) announced a quarterly dividend on Thursday, October 15th, Zacks reports. Shareholders of record on Thursday, November 5th will be paid a dividend of 0.71 per share by the energy company on Monday, November 30th. This represents a $2.84 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 4th. This is a boost from IDACORP’s previous quarterly dividend of $0.67.

IDACORP has raised its dividend by 23.1% over the last three years and has raised its dividend annually for the last 8 consecutive years.

Shares of NYSE IDA opened at $87.11 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $4.40 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 7.39 and a beta of 0.46. The stock’s fifty day simple moving average is $84.75 and its two-hundred day simple moving average is $88.98. IDACORP has a 12-month low of $69.05 and a 12-month high of $113.58.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, July 30th. The energy company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The business had revenue of $318.77 million for the quarter, compared to analysts’ expectations of $310.35 million. IDACORP had a return on equity of 9.48% and a net margin of 18.22%. During the same quarter last year, the firm earned $1.05 EPS. On average, equities analysts predict that IDACORP will post 4.55 earnings per share for the current fiscal year.

Separately, Sidoti dropped their target price on IDACORP from $108.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $102.83.

In related news, Director Christine King sold 3,273 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $91.79, for a total value of $300,428.67. Following the transaction, the director now owns 8,919 shares in the company, valued at approximately $818,675.01. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jeffrey L. Malmen sold 1,300 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.70, for a total transaction of $106,210.00. Corporate insiders own 0.53% of the company’s stock.

IDACORP Company Profile

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Dividend History for IDACORP (NYSE:IDA)

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