Banque Pictet & Cie SA Purchases 16,045 Shares of IDACORP, Inc. $IDA

Key Points

• Banque Pictet & Cie SA acquired 16,045 IDACORP shares in the third quarter, valued at approximately $2.1 million. Institutional investors collectively own 89.1% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Holds, resulting in a “Moderate Buy” consensus and an average price target of $150.86.
• IDACORP raised its quarterly dividend from $0.88 to $0.90 per share, equivalent to an annualized $3.60 payout and a 2.6% yield.

Banque Pictet & Cie SA acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,045 shares of the energy company's stock, valued at approximately $2,098,000.

Other hedge funds have also recently made changes to their positions in the company. Osterweis Capital Management Inc. bought a new stake in IDACORP during the second quarter valued at about $25,000. Western Wealth Management LLC purchased a new position in IDACORP in the first quarter valued at about $29,000. Trust Co. of Vermont bought a new position in IDACORP in the second quarter worth about $30,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in IDACORP in the second quarter worth about $33,000. Finally, Summit Securities Group LLC bought a new position in IDACORP in the first quarter worth about $37,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on IDA shares. Barclays decreased their price target on shares of IDACORP from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. BTIG Research reaffirmed a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Morgan Stanley reduced their price objective on shares of IDACORP from $151.00 to $143.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. Finally, Wells Fargo & Company increased their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Moderate Buy" and an average target price of $150.86.

IDACORP Price Performance

Shares of IDA stock opened at $138.48 on Friday. IDACORP, Inc. has a fifty-two week low of $124.12 and a fifty-two week high of $154.91. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. The stock's 50-day simple moving average is $135.46 and its 200-day simple moving average is $141.70.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $469.80 million for the quarter, compared to the consensus estimate of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter in the prior year, the company posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, November 5th. This is a positive change from IDACORP's previous quarterly dividend of $0.88. IDACORP's dividend payout ratio (DPR) is currently 58.28%.

About IDACORP

IDACORP, Inc NYSE: IDA is an energy holding company headquartered in Boise, Idaho. Its principal subsidiary, Idaho Power Company, is a regulated electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves a broad territory covering southern Idaho and eastern Oregon. Its electricity supply portfolio includes hydroelectric generation, natural gas and other thermal resources, as well as power purchased from renewable and other third-party sources.

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