Ormat Technologies, Inc. (NYSE:ORA) to Issue $0.12 Quarterly Dividend

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Tuesday, February 24th. Investors of record on Tuesday, March 10th will be given a dividend of 0.12 per share by the energy company on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th.

Ormat Technologies has raised its dividend payment by an average of 0.0%per year over the last three years. Ormat Technologies has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ormat Technologies to earn $2.18 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 22.0%.

Ormat Technologies Stock Performance

Ormat Technologies stock traded down $5.17 during trading hours on Thursday, reaching $111.90. 310,930 shares of the company were exchanged, compared to its average volume of 644,788. Ormat Technologies has a 12 month low of $64.39 and a 12 month high of $132.58. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $118.69 and a 200 day moving average of $107.99. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 4.69 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $276.04 million during the quarter, compared to analysts’ expectations of $257.75 million. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. Ormat Technologies’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, research analysts anticipate that Ormat Technologies will post 1.94 earnings per share for the current year.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.