IDACORP, Inc. (NYSE:IDA) Receives $98.00 Consensus Target Price from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $99.80.

Several equities research analysts recently weighed in on IDA shares. Mizuho increased their price objective on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Morgan Stanley increased their price target on IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

IDACORP Trading Down 0.2 %

Shares of NYSE IDA opened at $102.00 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $96.60 and its two-hundred day moving average price is $93.83. IDACORP has a 52-week low of $86.43 and a 52-week high of $104.43. The stock has a market capitalization of $5.43 billion, a P/E ratio of 20.48 and a beta of 0.58.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.38% and a net margin of 15.04%. The firm had revenue of $451.04 million for the quarter, compared to analysts’ expectations of $420.56 million. During the same period last year, the business posted $1.35 earnings per share. On average, analysts anticipate that IDACORP will post 5.37 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be given a dividend of $0.83 per share. The ex-dividend date is Monday, August 5th. This represents a $3.32 annualized dividend and a dividend yield of 3.25%. IDACORP’s dividend payout ratio is presently 66.67%.

Institutional Trading of IDACORP

Hedge funds have recently added to or reduced their stakes in the business. Rise Advisors LLC grew its stake in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in IDACORP in the 2nd quarter valued at about $35,000. Mather Group LLC. acquired a new position in IDACORP during the 1st quarter valued at about $41,000. Northwest Financial Advisors bought a new stake in shares of IDACORP during the 4th quarter worth about $52,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of IDACORP during the 4th quarter worth about $54,000. Institutional investors own 89.10% of the company’s stock.

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.