IDACORP, Inc. (IDA) Hits New 52-Week High at $90.71

IDACORP, Inc. (NYSE:IDA) hit a new 52-week high on Thursday . The company traded as high as $90.71 and last traded at $90.83, with a volume of 142,145 shares trading hands. The stock had previously closed at $89.72.

IDA has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Thursday, July 27th. KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a research note on Friday, September 1st. Finally, BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.

The company has a 50-day moving average of $87.90 and a 200-day moving average of $85.42. The firm has a market cap of $4.61 billion, a PE ratio of 23.09 and a beta of 0.51.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.07. The firm had revenue of $333.01 million for the quarter. IDACORP had a net margin of 15.31% and a return on equity of 9.20%. During the same period in the prior year, the company earned $1.12 EPS. On average, analysts predict that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.41%. IDACORP’s dividend payout ratio is currently 55.56%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of IDACORP by 0.6% during the 1st quarter. Swiss National Bank now owns 83,300 shares of the coal producer’s stock valued at $6,911,000 after acquiring an additional 500 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of IDACORP by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 203,606 shares of the coal producer’s stock valued at $16,891,000 after acquiring an additional 1,604 shares during the last quarter. Arizona State Retirement System boosted its position in shares of IDACORP by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 21,200 shares of the coal producer’s stock valued at $1,809,000 after acquiring an additional 200 shares during the last quarter. First Trust Advisors LP boosted its position in shares of IDACORP by 11.6% during the 2nd quarter. First Trust Advisors LP now owns 250,599 shares of the coal producer’s stock valued at $21,389,000 after acquiring an additional 25,991 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of IDACORP by 22.2% during the 1st quarter. Pacer Advisors Inc. now owns 4,974 shares of the coal producer’s stock valued at $413,000 after acquiring an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 75.95% of the company’s stock.

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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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