Entropy Technologies LP Has $421,000 Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Entropy Technologies LP lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 6.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,474 shares of the energy company’s stock after selling 408 shares during the quarter. Entropy Technologies LP’s holdings in Ormat Technologies were worth $421,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Ormat Technologies by 15.8% during the first 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 purchasing an additional 19,797 shares during the period. Mizuho Markets Americas LLC raised its stake in 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 buying an additional 25,438 shares during the period. Susquehanna International Group Ltd. bought a new position in Ormat Technologies in the second quarter worth approximately $1,006,000. Edgestream Partners L.P. grew its stake in Ormat Technologies by 178.2% in the first quarter. Edgestream Partners L.P. now owns 56,835 shares of the energy company’s stock valued at $3,762,000 after acquiring an additional 36,406 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Ormat Technologies by 433.4% during the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock valued at $998,000 after acquiring an additional 12,249 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

ORA has been the topic of several research reports. Roth Mkm restated a “buy” rating and set a $92.00 price objective (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Oppenheimer lifted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ormat Technologies has a consensus rating of “Moderate Buy” and an average price target of $84.50.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the stock in a transaction dated 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 transaction, the director now owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated 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. The trade was a 15.49 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $79.01 on Friday. The business’s fifty day simple moving average is $77.65 and its 200 day simple moving average is $74.64. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The firm has a market capitalization of $4.78 billion, a P/E ratio of 40.31, a price-to-earnings-growth ratio of 4.10 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. As a group, analysts anticipate that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Ormat Technologies 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.