IDACORP (NYSE:IDA) Updates FY 2022 Earnings Guidance – MarketBeat

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IDACORP (NYSE:IDAGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $4.95-$5.05 for the period, compared to the consensus EPS estimate of $4.98. The company issued revenue guidance of -.

IDACORP Stock Performance

NYSE IDA traded up $0.08 during trading hours on Thursday, hitting $112.54. The company had a trading volume of 4,552 shares, compared to its average volume of 159,427. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.33 and a current ratio of 1.54. IDACORP has a 1-year low of $95.26 and a 1-year high of $118.92. The company has a market cap of $5.69 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 7.96 and a beta of 0.56. The business has a 50 day moving average of $105.93 and a 200-day moving average of $108.02.
IDACORP (NYSE:IDAGet Rating) last released its quarterly earnings data on Thursday, August 4th. The energy company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.04). IDACORP had a net margin of 16.25% and a return on equity of 8.98%. During the same quarter last year, the company posted $1.38 earnings per share. As a group, equities research analysts expect that IDACORP will post 5 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 3rd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $3.00 annualized dividend and a yield of 2.67%. IDACORP’s dividend payout ratio is presently 63.03%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded shares of IDACORP from an underweight rating to an equal weight rating and increased their target price for the stock from $108.00 to $110.00 in a research note on Tuesday, May 3rd.

Institutional Investors Weigh In On IDACORP

Several hedge funds have recently made changes to their positions in IDA. Cohen & Steers Inc. lifted its position in IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after purchasing an additional 101 shares during the period. Covestor Ltd lifted its position in IDACORP by 70.0% in the first quarter. Covestor Ltd now owns 962 shares of the energy company’s stock valued at $111,000 after purchasing an additional 396 shares during the period. Captrust Financial Advisors increased its holdings in IDACORP by 17.7% in the first quarter. Captrust Financial Advisors now owns 1,296 shares of the energy company’s stock valued at $150,000 after buying an additional 195 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in IDACORP in the first quarter valued at about $227,000. Finally, Moors & Cabot Inc. increased its holdings in IDACORP by 9.8% in the first quarter. Moors & Cabot Inc. now owns 1,984 shares of the energy company’s stock valued at $229,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.

About IDACORP

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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.

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