Ormat Technologies, Inc. (NYSE:ORA) Receives $81.67 Consensus PT from Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $84.50.

ORA has been the topic of several research reports. Oppenheimer lifted their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm reissued a “buy” rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th.

Ormat Technologies Trading Down 5.2 %

Shares of Ormat Technologies stock opened at $79.52 on Friday. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $84.30. The firm has a market cap of $4.81 billion, a PE ratio of 40.57, a PEG ratio of 4.34 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.89. The company has a 50 day simple moving average of $77.28 and a two-hundred day simple moving average of $74.47.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period in the previous year, the business posted $0.47 earnings per share. Ormat Technologies’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Ormat Technologies will post 1.9 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of the company’s stock in a transaction 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 transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position 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 worth $9,583,000 after buying an additional 19,797 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ormat Technologies by 48.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,104 shares of the energy company’s stock worth $4,574,000 after buying an additional 22,413 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Ormat Technologies in the 1st quarter worth about $631,000. Mizuho Markets Americas LLC grew its position in shares of Ormat Technologies by 23.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 133,198 shares of the energy company’s stock worth $8,816,000 after buying an additional 25,438 shares during the period. Finally, Susquehanna International Group Ltd. purchased a new stake in shares of Ormat Technologies in the 2nd quarter worth about $1,006,000. 95.49% of the stock is currently owned by institutional investors.

About Ormat Technologies

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.