![]() A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. These returns cover a period from Januthrough May 15, 2023. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. and Morningstar, Inc.Ĭopyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606Īt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Forbes Media, LLC Investor's Business Daily, Inc. ![]() ![]() Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. The company delivered an average earnings surprise of 19.9% in the last four quarters. OGE Energy’s long-term earnings growth rate is 17.9%. The Zacks Consensus Estimate for NI’s 2023 EPS implies an improvement of 6.8% from that recorded in 2022. NiSource’s long-term earnings growth rate is 6.9%. The Zacks Consensus Estimate for ED’s 2023 EPS indicates an increase of 6.81% from the previous year’s number. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Ĭonsolidated Edison’s long-term (three to five years) earnings growth rate is 2%. ( NI Quick Quote NI - Free Report), and OGE Energy ( OGE Quick Quote OGE - Free Report), each carrying a Zacks Rank #2 at present. Image Source: Zacks Investment Research Other Stocks to ConsiderĪ few other top-ranked stocks from the same industry are Consolidated Edison ( ED Quick Quote ED - Free Report), NiSource Inc. In the past three months, IDA’s shares have risen 0.4% against the industry’s average decline of 0.5%. The aim of the systematic investment is to provide 100% clean energy to Idaho Power’s customers by 2045. Owing to systematic investments in generation portfolio strengthening, Idaho Power Hydroelectric Generation will be able to cater to the rising demand from its expanding customer base. The company expects reliability-focused projects to drive capital expenditure of $650-$700 million in 2023. IDA’s current dividend yield is 3.05%, better than the Zacks S&P 500 Composite’s 1.52%. Currently, its quarterly dividend is 79 cents per share, resulting in an annualized dividend of $3.16 per share. Since 2011, the company has raised its yearly dividend by 163% to $3.16 per share. IDACORP expects to increase its annual dividend rate by 5% or more, subject to approval from the board of directors. IDA paid out $154.3 million and $146.1 million in 20, respectively, as dividends to shareholders. The utility company has been consistently paying dividends to its shareholders. The ratio, being greater than one, reflects IDACORP’s ability to meet future debt obligations without difficulties. The time to interest earned ratio at the end of first-quarter 2023 was 3.9. In the past 12 months, IDA’s total debt to capital was 47.96, much better than the industry’s average of 59.38. This indicates that the company has been utilizing its funds more constructively than its peers in the electric power utility industry. Currently, IDACORP’s ROE is 9.65%, higher than the industry’s average of 6.1%. Return on equity (ROE) indicates how efficiently a company has been utilizing its funds to generate higher returns. IDA delivered an average earnings surprise of 4.6% in the last four quarters. The company’s long-term (three- to five-year) earnings growth is 3.7%. ![]() The Zacks Consensus Estimate for IDACORP’s 2023 earnings per share (EPS) has increased 0.12% to $5.07 in the past 60 days. Let’s explore the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. Given its growth opportunities and strong dividend history, IDA makes for a solid investment option in the utility sector. The company’s cost management and focus on producing more electricity from clean sources increase the predictability of earnings. IDACORP, Inc’s ( IDA Quick Quote IDA - Free Report) ongoing investments are expected to strengthen its infrastructure and help meet the demand for its services. ![]()
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