Ormat Technologies, Inc. (NYSE:ORA) Shares Set to Pay Quarterly Dividend of $0.12

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Wednesday, November 18th will be given a dividend of $0.12 per share by the energy company on Wednesday, December 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 18th.

Ormat Technologies has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ormat Technologies to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.5%.

Ormat Technologies Stock Up 0.3%

Shares of ORA opened at $94.43 on Thursday. The business’s 50 day moving average is $94.17 and its 200 day moving average is $111.18. The company has a market capitalization of $5.81 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. Ormat Technologies has a 12-month low of $85.77 and a 12-month high of $146.39. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.23. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%. The company had revenue of $275.12 million for the quarter, compared to analysts’ expectations of $248.36 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Research analysts expect that Ormat Technologies will post 2.69 earnings per share for the current fiscal year.

About Ormat Technologies

Ormat Technologies, Inc (NYSE: ORA) develops, owns, and operates renewable and alternative energy projects. The company’s principal activities include geothermal power generation, energy storage, and recovered energy generation, which converts waste heat from industrial processes into electricity.

Ormat provides equipment and services for geothermal projects, including turbines, generators, power plants, and related engineering and development capabilities. Its geothermal technology is designed to generate electricity from naturally occurring underground heat, including resources that may be unsuitable for conventional steam-based systems.

Founded in 1965, Ormat serves customers and operates projects in multiple international markets, including the United States, Latin America, Africa, and Asia.