IDACORP (NYSE:IDA) Upgraded at Guggenheim

Guggenheim upgraded shares of IDACORP (NYSE:IDA) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat reports.

IDA has been the subject of a number of other research reports. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Wells Fargo & Company increased their price target on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, IDACORP presently has an average rating of “Hold” and a consensus target price of $114.60.

IDACORP Price Performance

Shares of NYSE:IDA opened at $109.01 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $112.23 and a 200 day moving average price of $106.03. The company has a market cap of $5.81 billion, a P/E ratio of 20.22, a PEG ratio of 2.21 and a beta of 0.65. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42.

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

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 3.16%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Institutional Trading of IDACORP

Institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in IDACORP in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of IDACORP during the 3rd quarter valued at $26,000. MassMutual Private Wealth & Trust FSB lifted its stake in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc raised its position in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the period. Finally, Independence Bank of Kentucky boosted its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Company Profile

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.