A shot of high voltage electric power lines at sunset. imaginima
It's not a secret that utilities have been off to the races lately. The Utilities Select Sector SPDR Fund ETF (XLU) has gained 14% year to date. This is
Idacorp: This Underappreciated Dividend Growth Stock Remains A Buy
Summary
- IDACORP's total returns have more than doubled the S&P 500 in the last three months.
- Lower usage per customer due to weather and higher interest expense caused the electric utility to miss analysts' expectations for diluted EPS for the first quarter.
- Given the circumstances, IDA's interest coverage ratio was fine for Q1.
- Shares of the electric utility could be trading 8% below fair value.
- IDA could realistically generate double-digit annual total returns in the years ahead.
Hi, my name is Kody. Aside from my articles here on Seeking Alpha, I am also a regular contributor to Sure Dividend, The Dividend Kings, and iREIT+Hoya Capital. I have been investing since September 2017 (age 20) and interested in dividend investing since about 2009.Since July 2018, I have ran Kody's Dividends. This is a blog that is documenting my journey towards financial independence using dividend growth investing as the means to transform the dream of financial independence into a reality. It's also the inspiration of my pseudonym here on Seeking Alpha.By God's grace, I owe everything to my blog for introducing me to the Seeking Alpha community as an analyst. That's my story and I hope you enjoy my work examining dividend growth stocks and the occasional growth stock!
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