Ormat Technologies, Inc. (NYSE:ORA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $84.29.

A number of research analysts recently commented on ORA shares. TD Cowen raised their price target on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. UBS Group raised their price target on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Barclays decreased their price target on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th.

Ormat Technologies Stock Down 0.7 %

ORA opened at $72.55 on Friday. Ormat Technologies has a fifty-two week low of $58.73 and a fifty-two week high of $88.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.02 and a current ratio of 1.12. The company has a market capitalization of $4.38 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.49 and a beta of 0.48. The stock has a fifty day moving average of $66.42 and a 200-day moving average of $67.54.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. During the same quarter last year, the firm earned $0.73 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Ormat Technologies will post 2.07 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 21st. Ormat Technologies’s dividend payout ratio is presently 21.62%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the transaction, the director now owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Guinness Asset Management LTD grew its holdings in shares of Ormat Technologies by 5.7% during the third quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock worth $36,234,000 after purchasing an additional 28,058 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its holdings in shares of Ormat Technologies by 1.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after purchasing an additional 194 shares during the last quarter. Evexia Wealth LLC grew its holdings in shares of Ormat Technologies by 2.7% during the fourth quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock worth $462,000 after purchasing an additional 160 shares during the last quarter. LGT Capital Partners LTD. grew its holdings in shares of Ormat Technologies by 26.6% during the fourth quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after purchasing an additional 110,330 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Ormat Technologies by 25.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company’s stock worth $65,500,000 after purchasing an additional 172,934 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.