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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $81.67.

ORA has been the topic of a number of research analyst reports. Roth Mkm reissued a “buy” rating and set a $80.00 price objective on shares of Ormat Technologies in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer raised their price objective on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th.

Insider Buying and Selling

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares of the company’s stock, valued at $517,811.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Ormat Technologies by 15.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 144,778 shares of the energy company’s stock valued at $9,583,000 after buying an additional 19,797 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ormat Technologies by 48.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock valued at $4,574,000 after acquiring an additional 22,413 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Ormat Technologies during the 1st quarter worth $631,000. Mizuho Markets Americas LLC grew its stake in shares of Ormat Technologies by 23.6% during the 1st quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock worth $8,816,000 after purchasing an additional 25,438 shares during the period. Finally, Dudley & Shanley Inc. increased its holdings in shares of Ormat Technologies by 300.0% in the 1st quarter. Dudley & Shanley Inc. now owns 36,400 shares of the energy company’s stock valued at $2,409,000 after purchasing an additional 27,300 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Up 1.3 %

NYSE ORA opened at $76.00 on Monday. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $78.51. The firm has a 50 day moving average of $74.43 and a two-hundred day moving average of $72.02. The stock has a market capitalization of $4.59 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. Ormat Technologies’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, research analysts expect that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. Ormat Technologies’s payout ratio is 21.62%.

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.