Ormat Technologies, Inc. (NYSE:ORA) Receives $129.80 Average PT from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $129.0909.

ORA has been the subject of several recent analyst reports. TD Cowen lowered their price target on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 27th. Piper Sandler boosted their price objective on Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Roth Mkm set a $139.00 target price on Ormat Technologies in a research note on Wednesday, January 28th. Oppenheimer increased their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Finally, UBS Group dropped their price target on Ormat Technologies from $148.00 to $143.00 and set a “buy” rating on the stock in a research note on Tuesday.

Ormat Technologies Stock Up 1.6%

Shares of NYSE:ORA opened at $107.79 on Thursday. Ormat Technologies has a 52 week low of $64.39 and a 52 week high of $132.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. The company has a market capitalization of $6.56 billion, a PE ratio of 53.63, a PEG ratio of 4.38 and a beta of 0.84. The company has a 50 day moving average price of $118.10 and a two-hundred day moving average price of $108.60.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company had revenue of $276.04 million for the quarter, compared to analysts’ expectations of $257.75 million. During the same period last year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. Analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.88%.

Insider Activity

In other news, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the sale, the insider owned 3,433 shares of the company’s stock, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ormat Technologies

Several large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Ormat Technologies in the fourth quarter valued at $31,000. Smartleaf Asset Management LLC grew its position in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after acquiring an additional 211 shares during the period. Wolff Wiese Magana LLC acquired a new position in shares of Ormat Technologies during the 4th quarter worth about $33,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.