Shares of IDACORP, Inc. (NYSE:IDA) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Brokerages have set a 1-year consensus price objective of $89.00 for the company and are predicting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 190 out of 265 based on the ratings given to related companies.
Several equities analysts recently weighed in on IDA shares. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Thursday, July 27th. BidaskClub upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, August 25th. KeyCorp restated a “hold” rating on shares of IDACORP in a report on Friday, September 1st. Finally, ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.
Shares of IDACORP (IDA) traded up $0.48 during midday trading on Tuesday, reaching $97.43. 247,600 shares of the company were exchanged, compared to its average volume of 188,861. The firm has a market capitalization of $4,885.60, a price-to-earnings ratio of 23.59, a P/E/G ratio of 5.23 and a beta of 0.53. IDACORP has a 1 year low of $74.64 and a 1 year high of $98.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.53 and a current ratio of 2.03.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.14. The company had revenue of $408.32 million for the quarter. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. During the same quarter last year, the business earned $1.65 EPS. analysts anticipate that IDACORP will post 4.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 6th will be given a $0.59 dividend. The ex-dividend date is Friday, November 3rd. This represents a $2.36 annualized dividend and a dividend yield of 2.42%. This is an increase from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s payout ratio is presently 57.42%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of IDACORP by 0.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,248 shares of the coal producer’s stock valued at $703,000 after buying an additional 50 shares during the period. Capstone Asset Management Co. boosted its holdings in shares of IDACORP by 1.6% in the 2nd quarter. Capstone Asset Management Co. now owns 3,872 shares of the coal producer’s stock valued at $330,000 after buying an additional 60 shares during the period. World Asset Management Inc boosted its holdings in shares of IDACORP by 2.0% in the 2nd quarter. World Asset Management Inc now owns 3,186 shares of the coal producer’s stock valued at $272,000 after buying an additional 64 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of IDACORP by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,035 shares of the coal producer’s stock valued at $344,000 after buying an additional 73 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of IDACORP by 1.2% in the 2nd quarter. Amalgamated Bank now owns 7,182 shares of the coal producer’s stock valued at $613,000 after buying an additional 82 shares during the period. 76.30% of the stock is owned by institutional investors.
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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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