Pictet Asset Management Holding SA Has $110.20 Million Stake in IDACORP, Inc. $IDA

Key Points

• Pictet Asset Management trimmed its IDACORP stake by 1.2% in the first quarter, but still held 770,812 shares valued at about $110.2 million.
• IDACORP reported Q1 earnings of $1.21 per share, beating estimates, though revenue came in below expectations at $403.4 million. The company also reaffirmed FY2026 guidance of 6.25-6.45 EPS.
• The utility continues to pay a quarterly dividend of $0.88 per share, implying an annualized yield of about 2.3%, while analysts currently rate the stock Moderate Buy on average.

Pictet Asset Management Holding SA reduced its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 770,812 shares of the energy company's stock after selling 9,149 shares during the period. Pictet Asset Management Holding SA owned approximately 1.40% of IDACORP worth $110,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $7,171,000. Citigroup Inc. grew its position in shares of IDACORP by 102.8% during the 3rd quarter. Citigroup Inc. now owns 72,933 shares of the energy company's stock worth $9,638,000 after buying an additional 36,969 shares during the period. Mirabella Financial Services LLP raised its stake in IDACORP by 173.7% during the 3rd quarter. Mirabella Financial Services LLP now owns 19,187 shares of the energy company's stock worth $2,531,000 after buying an additional 12,178 shares during the period. Reaves W H & Co. Inc. grew its holdings in shares of IDACORP by 6.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company's stock valued at $228,797,000 after buying an additional 107,131 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $4,385,000. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.7%

Shares of IDA stock opened at $151.88 on Monday. The company's fifty day moving average price is $143.14 and its 200-day moving average price is $138.61. IDACORP, Inc. has a one year low of $113.82 and a one year high of $152.88. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.05 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same quarter in the previous year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Sell-side analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP's payout ratio is currently 58.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IDA shares. Wells Fargo & Company reaffirmed an "underweight" rating and set a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Mizuho set a $157.00 price target on shares of IDACORP in a research report on Friday, May 1st. Wall Street Zen raised shares of IDACORP from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 12th. Morgan Stanley restated an "overweight" rating and set a $152.00 price target on shares of IDACORP in a report on Wednesday. Finally, Barclays increased their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $149.29.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares of the company's stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company's stock.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company's service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power's generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.

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