IDACORP (NYSE:IDA) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of IDACORP (NYSE:IDA) from a sell rating to a hold rating in a report published on Saturday morning.

Several other equities research analysts have also issued reports on IDA. Mizuho increased their target price on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group reduced their price objective on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Barclays assumed coverage on shares of IDACORP in a report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 target price for the company. Finally, UBS Group dropped their target price on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.67.

IDACORP Trading Up 2.1%

NYSE:IDA opened at $144.33 on Friday. IDACORP has a one year low of $108.15 and a one year high of $145.30. The business has a fifty day moving average price of $130.48 and a 200-day moving average price of $129.37. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be paid a $0.88 dividend. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s payout ratio is presently 60.48%.

Institutional Investors Weigh In On IDACORP

Large investors have recently made changes to their positions in the company. AMG National Trust Bank boosted its stake in IDACORP by 0.7% during the third quarter. AMG National Trust Bank now owns 11,665 shares of the energy company’s stock valued at $1,542,000 after buying an additional 80 shares during the last quarter. Assetmark Inc. raised its holdings in shares of IDACORP by 7.6% during the 3rd quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock worth $149,000 after acquiring an additional 80 shares in the last quarter. AssuredPartners Investment Advisors LLC raised its holdings in shares of IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after acquiring an additional 80 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of IDACORP by 33.6% in the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after purchasing an additional 96 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of IDACORP by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock valued at $53,000 after purchasing an additional 97 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.