Ormat Technologies, Inc. (NYSE:ORA) Receives Average Rating of “Moderate Buy” from Analysts

Ormat Technologies, Inc. (NYSE:ORA) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $81.00.

Several brokerages have commented on ORA. TD Cowen dropped their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, February 23rd. Barclays decreased their price target on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, February 5th. Finally, Oppenheimer decreased their price target on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Ormat Technologies by 6.6% in the 2nd quarter. BlackRock Inc. now owns 9,093,461 shares of the energy company’s stock worth $731,660,000 after purchasing an additional 565,321 shares during the period. Vanguard Group Inc. boosted its stake in Ormat Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,324,628 shares of the energy company’s stock worth $403,554,000 after purchasing an additional 39,172 shares during the period. Impax Asset Management Group plc boosted its stake in Ormat Technologies by 15.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock worth $199,004,000 after purchasing an additional 343,650 shares during the period. Global Alpha Capital Management Ltd. boosted its stake in Ormat Technologies by 9.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock worth $177,552,000 after purchasing an additional 196,517 shares during the period. Finally, State Street Corp boosted its stake in shares of Ormat Technologies by 7.6% during the 1st quarter. State Street Corp now owns 1,947,280 shares of the energy company’s stock worth $165,071,000 after buying an additional 137,486 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $66.29 on Thursday. The firm has a fifty day moving average of $65.63 and a two-hundred day moving average of $68.09. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.39 and a beta of 0.48. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $88.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, equities research analysts predict that Ormat Technologies will post 2.3 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s payout ratio is presently 22.97%.

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.