IDACORP Inc (NYSE:IDA) declared a quarterly dividend on Thursday, January 18th, RTT News reports. Shareholders of record on Monday, February 5th will be paid a dividend of 0.59 per share by the coal producer on Wednesday, February 28th. This represents a $2.36 annualized dividend and a yield of 2.82%.
IDACORP has raised its dividend by an average of 8.4% per year over the last three years and has raised its dividend every year for the last 6 years. IDACORP has a payout ratio of 57.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect IDACORP to earn $4.16 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 56.7%.
IDACORP (IDA) opened at $83.71 on Friday. IDACORP has a 12 month low of $78.05 and a 12 month high of $100.04. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4,249.65, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 4.98 and a beta of 0.55.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.14. IDACORP had a return on equity of 9.44% and a net margin of 15.46%. The firm had revenue of $408.32 million for the quarter. During the same period last year, the firm posted $1.65 earnings per share. equities research analysts anticipate that IDACORP will post 4.11 EPS for the current year.
Several equities research analysts have recently commented on IDA shares. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. KeyCorp restated a “hold” rating on shares of IDACORP in a report on Friday, October 20th. ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Bank of America started coverage on IDACORP in a report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $91.00.
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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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