IDACORP (NYSE:IDA) Given New $118.00 Price Target at Jefferies Financial Group

IDACORP (NYSE:IDA) had its price target lowered by Jefferies Financial Group from $129.00 to $118.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a hold rating on the energy company’s stock.

Several other brokerages have also commented on IDA. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, IDACORP currently has a consensus rating of “Hold” and a consensus price target of $116.20.

IDACORP Stock Performance

Shares of IDA opened at $109.96 on Tuesday. The company’s fifty day moving average is $111.50 and its 200-day moving average is $106.36. IDACORP has a 12 month low of $86.43 and a 12 month high of $120.42. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.21 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its quarterly 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). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company earned $2.07 EPS. Equities analysts expect that IDACORP will post 5.41 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Institutional Trading of IDACORP

Hedge funds have recently bought and sold shares of the stock. Diversified Trust Co bought a new stake in IDACORP in the 4th quarter valued at $704,000. Algert Global LLC boosted its holdings in IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after purchasing an additional 10,550 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after purchasing an additional 19,274 shares during the period. GSA Capital Partners LLP bought a new stake in IDACORP in the 3rd quarter valued at $3,228,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares during the period. 89.10% of the stock is owned by institutional investors.

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.