IDACORP, Inc. (NYSE:IDA) Receives Average Recommendation of “Buy” from Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $106.00.

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of IDACORP from $104.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, July 30th. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $109.00 price target on the stock in a research note on Monday, July 19th.

IDA traded down $0.68 on Tuesday, hitting $102.92. The company had a trading volume of 8,374 shares, compared to its average volume of 301,287. The firm has a market cap of $5.20 billion, a P/E ratio of 20.67, a PEG ratio of 5.60 and a beta of 0.51. IDACORP has a 1 year low of $78.91 and a 1 year high of $110.21. The company’s fifty day moving average price is $105.49 and its 200 day moving average price is $101.67. The company has a current ratio of 2.03, a quick ratio of 1.71 and a debt-to-equity ratio of 0.77.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 29th. The energy company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.15. The firm had revenue of $360.07 million for the quarter. IDACORP had a net margin of 17.95% and a return on equity of 9.85%. On average, analysts predict that IDACORP will post 4.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Thursday, August 5th were paid a dividend of $0.71 per share. The ex-dividend date was Wednesday, August 4th. This represents a $2.84 dividend on an annualized basis and a yield of 2.76%. IDACORP’s dividend payout ratio (DPR) is presently 60.55%.

Several institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of IDACORP during the second quarter worth about $260,000. Parametric Portfolio Associates LLC grew its position in shares of IDACORP by 4.8% during the second quarter. Parametric Portfolio Associates LLC now owns 241,612 shares of the energy company’s stock worth $23,557,000 after buying an additional 11,100 shares in the last quarter. Colony Group LLC boosted its holdings in IDACORP by 0.9% in the second quarter. Colony Group LLC now owns 34,914 shares of the energy company’s stock valued at $3,404,000 after purchasing an additional 303 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in IDACORP by 105,911.1% in the second quarter. Metropolitan Life Insurance Co NY now owns 9,541 shares of the energy company’s stock valued at $930,000 after purchasing an additional 9,532 shares in the last quarter. Finally, Man Group plc acquired a new position in IDACORP in the second quarter valued at approximately $689,000. 79.48% of the stock is owned by institutional investors and hedge funds.

IDACORP Company Profile

IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. The firm owns and operates hydroelectric plants on the Snake River and its tributaries. It operates through the following segments: Utilities Operations and Other. The Utilities Operations segment focuses in the production of electricity.

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