IDACORP (NYSE:IDA) Reaches New 1-Year Low - What's Next?

IDACORP, Inc. (NYSE:IDA - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $115.28 and last traded at $118.24, with a volume of 518573 shares trading hands. The stock had previously closed at $117.56.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IDA. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim increased their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley lifted their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. StockNews.com lowered IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their price target on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $123.57.

IDACORP Trading Up 0.0 %

The firm has a 50 day moving average of $116.11 and a 200 day moving average of $112.97. The firm has a market cap of $6.30 billion, a PE ratio of 21.28, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same quarter in the prior year, the company earned $0.95 EPS. Equities analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is currently 62.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oak Thistle LLC raised its stake in shares of IDACORP by 115.1% during the 1st quarter. Oak Thistle LLC now owns 18,022 shares of the energy company's stock valued at $2,095,000 after purchasing an additional 9,644 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of IDACORP during the first quarter valued at about $7,721,000. Allianz Asset Management GmbH lifted its holdings in shares of IDACORP by 81.9% in the first quarter. Allianz Asset Management GmbH now owns 71,211 shares of the energy company's stock worth $8,276,000 after buying an additional 32,070 shares in the last quarter. IFP Advisors Inc boosted its position in shares of IDACORP by 267.5% in the first quarter. IFP Advisors Inc now owns 1,073 shares of the energy company's stock valued at $125,000 after acquiring an additional 781 shares during the period. Finally, Jennison Associates LLC purchased a new position in IDACORP during the first quarter valued at approximately $71,437,000. 89.10% of the stock is owned by institutional investors.

IDACORP Company Profile

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.