Brokerages Set IDACORP, Inc. (NYSE:IDA) Price Target at $116.20

IDACORP, Inc. (NYSE:IDA) has been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $116.20.

A number of analysts have weighed in on IDA shares. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Morgan Stanley increased their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Finally, Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd.

Institutional Investors Weigh In On IDACORP

Institutional investors have recently modified their holdings of the company. Diversified Trust Co acquired a new position in IDACORP in the fourth quarter valued at $704,000. Algert Global LLC lifted its stake in shares of 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 position in shares of IDACORP by 67.8% during 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 in the last quarter. GSA Capital Partners LLP acquired a new stake in IDACORP during the third quarter worth approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Trading Down 0.0 %

IDA opened at $111.47 on Friday. The company has a market cap of $5.94 billion, a P/E ratio of 20.68, a PEG ratio of 2.28 and a beta of 0.65. 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 50 day moving average is $110.13 and its 200-day moving average is $107.44. IDACORP has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 63.82%.

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.