IDACORP, Inc. (NYSE:IDA) Receives $97.40 Average Target Price from Analysts

Shares of IDACORP, Inc. (NYSE:IDAGet Free Report) have been given a consensus recommendation of “Hold” by the five analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $97.40.

IDA has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Mizuho raised their price objective on IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Morgan Stanley lifted their target price on IDACORP from $96.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Finally, StockNews.com raised IDACORP to a “sell” rating in a research report on Friday, April 26th.

View Our Latest Stock Analysis on IDACORP

Insider Buying and Selling

In other news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total transaction of $142,635.00. Following the transaction, the vice president now directly owns 1,650 shares in the company, valued at approximately $156,898.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On IDACORP

A number of hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in IDACORP during the 3rd quarter worth $40,000. Mather Group LLC. acquired a new stake in shares of IDACORP in the first quarter valued at about $41,000. Northwest Financial Advisors bought a new position in IDACORP during the fourth quarter worth about $52,000. Kapitalo Investimentos Ltda bought a new position in IDACORP during the fourth quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC grew its holdings in IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after purchasing an additional 112 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDA stock opened at $92.77 on Tuesday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 18.63 and a beta of 0.57. The firm has a 50-day simple moving average of $94.47 and a two-hundred day simple moving average of $93.98. IDACORP has a one year low of $86.43 and a one year high of $106.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54.

IDACORP (NYSE:IDAGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The company had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. During the same period in the previous year, the business earned $1.11 earnings per share. On average, equities analysts forecast that IDACORP will post 5.35 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Monday, May 6th were given a $0.83 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. IDACORP’s payout ratio is 66.67%.

IDACORP Company Profile

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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.

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Analyst Recommendations for IDACORP (NYSE:IDA)

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