IDACORP, Inc. (NYSE:IDA) Receives $111.00 Average Target Price from Brokerages

IDACORP, Inc. (NYSE:IDA) has received an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $111.00.

Several research analysts recently weighed in on IDA shares. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company lifted their price target 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.

IDACORP Stock Up 0.1 %

IDA stock opened at $110.33 on Wednesday. The firm’s 50-day moving average is $113.01 and its two-hundred day moving average is $105.34. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 2.19 and a beta of 0.65. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

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

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is 63.82%.

Institutional Trading of IDACORP

Large investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in IDACORP during the 3rd quarter worth about $26,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of IDACORP by 98.4% in 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 boosted its holdings in shares of IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in IDACORP in the 2nd quarter valued at approximately $35,000. 89.10% of the stock is owned by institutional investors and hedge funds.

About IDACORP

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.