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

Shares of IDACORP, Inc. (NYSE:IDA) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $114.60.

Several research firms recently issued reports on IDA. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price objective on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Finally, Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $111.70 on Wednesday. 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 has a 12-month low of $86.43 and a 12-month high of $120.42. The company’s 50 day moving average price is $112.75 and its two-hundred day moving average price is $105.78. The firm has a market cap of $5.95 billion, a PE ratio of 20.72, a PEG ratio of 2.26 and a beta of 0.65.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period in the prior year, the firm earned $2.07 earnings per share. Equities research analysts predict that IDACORP will post 5.41 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 63.82%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in IDACORP during the 4th quarter worth about $704,000. Algert Global LLC boosted its position in shares of IDACORP by 42.5% during 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 in the last quarter. Edgestream Partners L.P. acquired a new stake in IDACORP during the second quarter worth approximately $1,833,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in IDACORP by 67.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after purchasing an additional 19,274 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in IDACORP in the third quarter valued at approximately $3,228,000. 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.