IDACORP, Inc. (NYSE:IDA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research 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 ratings on the stock in the last year is $116.20.

Several equities research analysts recently issued reports on IDA shares. Morgan Stanley increased their price objective on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

IDACORP Stock Down 1.6 %

Shares of IDACORP stock opened at $109.70 on Friday. The stock has a 50-day moving average price of $110.03 and a 200 day moving average price of $107.58. The company has a market cap of $5.84 billion, a P/E ratio of 20.35, a P/E/G 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. IDACORP has a 1 year low of $86.47 and a 1 year high of $120.42.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is 63.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IDA. Marshall Wace LLP acquired a new position in shares of IDACORP during the 2nd quarter valued at about $224,000. Sanctuary Advisors LLC acquired a new position in shares of IDACORP during the 2nd quarter valued at about $591,000. CWM LLC increased its holdings in shares of IDACORP by 63.0% during the 3rd quarter. CWM LLC now owns 1,475 shares of the energy company’s stock valued at $152,000 after acquiring an additional 570 shares during the last quarter. Inspire Investing LLC grew its holdings in IDACORP by 6.3% in the 3rd quarter. Inspire Investing LLC now owns 4,003 shares of the energy company’s stock valued at $413,000 after buying an additional 239 shares during the last quarter. Finally, Creative Planning grew its holdings in IDACORP by 9.3% in the 3rd quarter. Creative Planning now owns 17,104 shares of the energy company’s stock valued at $1,763,000 after buying an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.