Zacks: IDACORP, Inc. (IDA) Receives Consensus Rating of “” from Brokerages
IDACORP, Inc. (NYSE:IDA) has been given a consensus broker rating score of 3.00 (Hold) from the four analysts that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus price objective of $86.00 for the company and are predicting that the company will post $1.69 earnings per share for the current quarter, according to Zacks. Zacks has also assigned IDACORP an industry rank of 109 out of 265 based on the ratings given to its competitors.
IDA has been the topic of a number of research analyst reports. BidaskClub lowered shares of IDACORP from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 7th.
In related news, VP Lisa A. Grow sold 1,200 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total transaction of $106,344.00. Following the transaction, the vice president now owns 17,248 shares of the company’s stock, valued at approximately $1,528,517.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after buying an additional 224 shares in the last quarter. Advisor Group Inc. raised its position in IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after buying an additional 111 shares in the last quarter. Riverhead Capital Management LLC raised its position in IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after buying an additional 930 shares in the last quarter. ETRADE Capital Management LLC acquired a new position in IDACORP during the second quarter valued at approximately $200,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in IDACORP during the first quarter valued at approximately $203,000. 75.95% of the stock is currently owned by institutional investors.
Shares of IDACORP (NYSE:IDA) traded up 0.42% during mid-day trading on Monday, reaching $88.87. 60,366 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $86.53 and a 200 day moving average price of $84.77. IDACORP has a 52-week low of $72.93 and a 52-week high of $90.67. The firm has a market cap of $4.48 billion, a P/E ratio of 22.45 and a beta of 0.51.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.07. The company had revenue of $333.01 million during the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same quarter last year, the firm earned $1.12 earnings per share. Analysts forecast that IDACORP will post $4.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 4th. IDACORP’s dividend payout ratio is currently 55.56%.
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IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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