ValuEngine upgraded shares of IDACORP, Inc. (NYSE:IDA) from a hold rating to a buy rating in a report published on Thursday.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of IDACORP from a buy rating to a hold rating in a research report on Wednesday, August 30th. KeyCorp restated a hold rating on shares of IDACORP in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of IDACORP from a sell rating to a hold rating in a research report on Friday, August 25th.
IDACORP (IDA) traded down $0.12 on Thursday, reaching $95.17. 239,100 shares of the company traded hands, compared to its average volume of 188,053. The firm has a market capitalization of $4,795.90, a PE ratio of 23.16, a PEG ratio of 5.13 and a beta of 0.53. IDACORP has a 1 year low of $74.27 and a 1 year high of $95.57. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78.
IDACORP (NYSE:IDA) last issued its earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.14. The company had revenue of $408.32 million for the quarter. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. During the same period last year, the company posted $1.65 earnings per share. sell-side analysts predict that IDACORP will post 4.12 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 6th will be issued a $0.59 dividend. The ex-dividend date is Friday, November 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 2.48%. This is an increase from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s dividend payout ratio is currently 57.42%.
A number of large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IDACORP by 14.0% during 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 during the last quarter. Advisor Group Inc. lifted its holdings in shares of IDACORP by 6.5% during the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 111 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of IDACORP by 77.5% during the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after acquiring an additional 930 shares during the period. ETRADE Capital Management LLC bought a new position in shares of IDACORP during the second quarter valued at $200,000. Finally, LifePlan Financial Group Inc bought a new position in shares of IDACORP during the second quarter valued at $205,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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