IDACORP, Inc. (NYSE:IDA) has been assigned an average broker rating score of 3.00 (Hold) from the four brokers that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a hold recommendation.
Brokers have set a one year consensus price objective of $86.00 for the company and are expecting that the company will post $1.66 EPS for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 172 out of 265 based on the ratings given to related companies.
A number of research firms recently weighed in on IDA. KeyCorp reissued a “hold” rating on shares of IDACORP in a research note on Friday, September 1st. BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Thursday, July 27th.
IDACORP (NYSE IDA) traded down 1.51% on Friday, reaching $91.77. 53,267 shares of the company’s stock traded hands. IDACORP has a 52-week low of $72.93 and a 52-week high of $93.22. The firm has a market capitalization of $4.62 billion, a PE ratio of 23.18 and a beta of 0.50. The firm’s 50 day moving average price is $89.82 and its 200 day moving average price is $87.30.
IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). The business had revenue of $333.01 million for the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same period last year, the business posted $1.12 earnings per share. On average, analysts predict that IDACORP will post $4.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 6th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, November 3rd. This is an increase from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s dividend payout ratio is presently 55.56%.
Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after purchasing an additional 224 shares in the last quarter. Advisor Group Inc. increased its stake in IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after purchasing an additional 111 shares in the last quarter. Riverhead Capital Management LLC increased its stake in IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after purchasing an additional 930 shares in the last quarter. ETRADE Capital Management LLC bought a new stake in IDACORP in the second quarter valued at approximately $200,000. Finally, First Citizens Bank & Trust Co. bought a new stake in IDACORP in the second quarter valued at approximately $205,000. 76.01% of the stock is owned by hedge funds and other institutional investors.
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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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