Analysts Set IDACORP, Inc. (NYSE:IDA) PT at $118.20

IDACORP, Inc. (NYSE:IDA) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $118.20.

IDA has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley lifted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America lifted their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd.

Hedge Funds Weigh In On IDACORP

Hedge funds have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP during the 3rd quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 last quarter. Versant Capital Management Inc increased its position in shares of 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 last quarter. Independence Bank of Kentucky increased its position in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of IDACORP during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $113.14 on Thursday. IDACORP has a 12 month low of $88.67 and a 12 month high of $120.42. The stock has a market cap of $6.11 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average price is $110.90 and its 200-day moving average price is $108.89.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, equities analysts expect that IDACORP will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 62.77%.

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.