Analysts Set IDACORP, Inc. (NYSE:IDA) Price Target at $111.00

Shares of IDACORP, Inc. (NYSE:IDA) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $111.00.

Several research analysts recently issued reports on IDA shares. Wells Fargo & Company upped their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a report on Friday, November 1st. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley increased their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th.

Institutional Investors Weigh In On IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in IDACORP in the third quarter valued at $26,000. MassMutual Private Wealth & Trust FSB increased its position in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc increased its position in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in IDACORP in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE:IDA opened at $110.33 on Wednesday. IDACORP has a twelve month low of $86.43 and a twelve month high of $120.42. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.88 billion, a P/E ratio of 20.47, a PEG ratio of 2.19 and a beta of 0.65. The business’s 50-day moving average price is $113.01 and its two-hundred day moving average price is $105.52.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same quarter in the previous year, the firm earned $2.07 earnings per share. As a group, equities analysts predict that IDACORP will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.12%. IDACORP’s payout ratio is currently 63.82%.

IDACORP Company Profile

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.