IDACORP (NYSE:IDA) Reaches New 52-Week High – What’s Next?

IDACORP, Inc. (NYSE:IDA)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $145.66 and last traded at $145.5460, with a volume of 8616 shares traded. The stock had previously closed at $144.26.

Analyst Ratings Changes

A number of analysts have weighed in on IDA shares. Mizuho raised their price target on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Morgan Stanley dropped their price objective on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $129.00 to $118.00 in a research note on Tuesday, January 20th. Barclays began coverage on IDACORP in a report on Wednesday, January 14th. They set an “overweight” rating and a $144.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IDACORP presently has an average rating of “Moderate Buy” and an average target price of $137.67.

IDACORP Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The stock has a fifty day moving average price of $130.87 and a two-hundred day moving average price of $129.55. The company has a market cap of $7.82 billion, a P/E ratio of 24.88, a PEG ratio of 2.80 and a beta of 0.59.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, February 5th. IDACORP’s payout ratio is 60.48%.

Institutional Investors Weigh In On IDACORP

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IDACORP by 79.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after buying an additional 2,625 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of IDACORP by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after buying an additional 10,855 shares during the period. Sequoia Financial Advisors LLC purchased a new position in IDACORP during the 2nd quarter worth approximately $226,000. Finally, New York State Teachers Retirement System grew its holdings in shares of IDACORP by 0.4% during the second quarter. New York State Teachers Retirement System now owns 77,582 shares of the energy company’s stock valued at $8,957,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.