IDACORP, Inc. (NYSE:IDA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 15.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 49,141 shares of the energy company's stock after selling 9,187 shares during the period. Federated Hermes Inc. owned approximately 0.09% of IDACORP worth $5,370,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in IDACORP by 1.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 167,505 shares of the energy company's stock valued at $18,305,000 after acquiring an additional 2,015 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of IDACORP during the fourth quarter worth approximately $1,066,000. Wells Fargo & Company MN lifted its holdings in shares of IDACORP by 2.7% during the fourth quarter. Wells Fargo & Company MN now owns 173,384 shares of the energy company's stock worth $18,947,000 after purchasing an additional 4,527 shares during the period. Pitcairn Co. grew its position in IDACORP by 5.0% in the 4th quarter. Pitcairn Co. now owns 5,043 shares of the energy company's stock valued at $551,000 after buying an additional 242 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in IDACORP by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 954,035 shares of the energy company's stock valued at $104,288,000 after buying an additional 3,829 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IDA. Morgan Stanley lifted their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Bank of America increased their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $120.50.

IDACORP Price Performance

IDA traded down $1.48 during midday trading on Wednesday, reaching $118.03. 214,665 shares of the company's stock were exchanged, compared to its average volume of 328,026. The business's 50-day moving average price is $114.62 and its 200 day moving average price is $111.43. The stock has a market capitalization of $6.38 billion, a PE ratio of 21.54, a P/E/G ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $121.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's payout ratio is 62.77%.

IDACORP 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.