Zacks Investment Research cut shares of IDACORP (NYSE:IDA) from a buy rating to a hold rating in a research note issued to investors on Wednesday, January 3rd.

According to Zacks, “Shares of IDACORP have gained higher than the industry in the last year.  The utility has plans to invest nearly $1.5 billion over 2017-2021 for transmission and plant expansion projects, which will allow the company to provide efficient services to expanding customer base. Its Board of Directors has been approving annual increase in dividends since 2012 on the back of the company’s consistent performance. IDACORP operates under stringent regulatory environment and operation of its hydro-electric power generation units require licenses and the permitting process could involve a number of stringent conditions which may lead to significant capital expenditures. The rising operating cost is a matter of concern for the company.”

IDA has been the topic of several other research reports. ValuEngine raised IDACORP from a hold rating to a buy rating in a research report on Sunday, December 31st. KeyCorp reiterated a hold rating on shares of IDACORP in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. IDACORP has a consensus rating of Hold and an average price target of $91.00.

Shares of IDACORP (NYSE IDA) traded up $0.31 during midday trading on Wednesday, reaching $85.20. The company’s stock had a trading volume of 23,422 shares, compared to its average volume of 318,319. The firm has a market capitalization of $4,337.33, a P/E ratio of 20.75, a PEG ratio of 5.08 and a beta of 0.55. The company has a current ratio of 2.03, a quick ratio of 1.53 and a debt-to-equity ratio of 0.78. IDACORP has a 1 year low of $78.05 and a 1 year high of $100.04.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.14. IDACORP had a return on equity of 9.44% and a net margin of 15.46%. The firm had revenue of $408.32 million for the quarter. During the same period last year, the firm earned $1.65 EPS. equities analysts forecast that IDACORP will post 4.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, February 2nd. IDACORP’s payout ratio is presently 57.42%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation bought a new position in shares of IDACORP in the 3rd quarter valued at $104,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of IDACORP by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 224 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of IDACORP by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 111 shares during the last quarter. Riverhead Capital Management LLC increased its holdings 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 purchasing an additional 930 shares during the period. Finally, ETRADE Capital Management LLC acquired a new stake in IDACORP in the second quarter valued at $200,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

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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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