IDACORP (NYSE:IDA) Issues Earnings Results

IDACORP (NYSE:IDAGet Rating) announced its quarterly earnings data on Thursday. The energy company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.04), Briefing.com reports. IDACORP had a net margin of 16.25% and a return on equity of 9.01%. During the same quarter in the previous year, the business earned $1.38 EPS. IDACORP updated its FY22 guidance to $4.95-5.05 EPS and its FY 2022 guidance to $4.95-$5.05 EPS.

IDACORP Trading Down 1.0 %

Shares of NYSE:IDA traded down $1.10 on Friday, hitting $109.49. 191,695 shares of the company’s stock were exchanged, compared to its average volume of 159,197. IDACORP has a 12 month low of $95.26 and a 12 month high of $118.92. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 7.84 and a beta of 0.56. The business’s 50 day simple moving average is $105.78 and its two-hundred day simple moving average is $107.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.87 and a quick ratio of 1.56.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 3rd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Tuesday, August 2nd. IDACORP’s payout ratio is 63.03%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $108.00 to $110.00 in a report on Tuesday, May 3rd.

Institutional Trading of IDACORP

Several institutional investors and hedge funds have recently made changes to their positions in IDA. Cohen & Steers Inc. lifted its position in shares of IDACORP by 33.8% during the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after purchasing an additional 101 shares during the last quarter. Covestor Ltd raised its holdings in IDACORP by 70.0% in the first quarter. Covestor Ltd now owns 962 shares of the energy company’s stock worth $111,000 after purchasing an additional 396 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of IDACORP by 17.7% during the first quarter. Captrust Financial Advisors now owns 1,296 shares of the energy company’s stock worth $150,000 after acquiring an additional 195 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of IDACORP during the first quarter worth about $227,000. Finally, Moors & Cabot Inc. grew its stake in shares of IDACORP by 9.8% during the first quarter. Moors & Cabot Inc. now owns 1,984 shares of the energy company’s stock worth $229,000 after acquiring an additional 177 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors.

IDACORP Company Profile

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IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.

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Earnings History for IDACORP (NYSE:IDA)

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