IDACORP, Inc. (NYSE:IDA) Holdings Lowered by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,141 shares of the energy company's stock after selling 9,187 shares during the period. Federated Hermes Inc. owned 0.09% of IDACORP worth $5,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its stake in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc lifted its position in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after acquiring an additional 225 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of IDACORP in the 3rd quarter worth approximately $53,000. Finally, Jones Financial Companies Lllp boosted its position in shares of IDACORP by 1,333.3% during the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after purchasing an additional 480 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

IDACORP Trading Up 1.6 %

Shares of IDACORP stock traded up $1.90 during trading hours on Thursday, reaching $119.88. The stock had a trading volume of 63,456 shares, compared to its average volume of 327,288. The firm has a 50 day simple moving average of $114.76 and a two-hundred day simple moving average of $111.47. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 1 year low of $89.61 and a 1 year high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share 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 business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. As a group, equities research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

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.