Ormat Technologies, Inc. (NYSE:ORA)’s share price reached a new 52-week high on Monday . The stock traded as high as $62.61 and last traded at $62.61, with a volume of 802 shares. The stock had previously closed at $61.94.
Several research firms recently weighed in on ORA. ValuEngine raised Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut Ormat Technologies from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $63.33.
The company has a debt-to-equity ratio of 0.78, a current ratio of 1.57 and a quick ratio of 1.41. The firm has a market cap of $3.14 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.94 and a beta of 1.15.
Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Monday, May 6th. The energy company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $199.04 million during the quarter, compared to analysts’ expectations of $183.62 million. Ormat Technologies had a return on equity of 5.86% and a net margin of 7.41%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. As a group, equities research analysts predict that Ormat Technologies, Inc. will post 1.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th were issued a $0.11 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.44 annualized dividend and a yield of 0.71%. Ormat Technologies’s dividend payout ratio (DPR) is 21.15%.
In other Ormat Technologies news, Director David Granot sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $61.69, for a total value of $462,675.00. Following the completion of the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $462,675. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Nir Wolf sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $61.80, for a total value of $222,480.00. Following the completion of the transaction, the vice president now directly owns 1,800 shares of the company’s stock, valued at approximately $111,240. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ORA. Strs Ohio acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ormat Technologies by 15.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,775 shares of the energy company’s stock valued at $197,000 after purchasing an additional 506 shares during the period. Rhumbline Advisers grew its stake in shares of Ormat Technologies by 42.8% in the 4th quarter. Rhumbline Advisers now owns 58,743 shares of the energy company’s stock valued at $3,072,000 after purchasing an additional 17,616 shares during the period. SG Americas Securities LLC bought a new stake in shares of Ormat Technologies in the 4th quarter valued at approximately $949,000. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Ormat Technologies by 3.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 17,818 shares of the energy company’s stock valued at $932,000 after purchasing an additional 604 shares during the period. 75.09% of the stock is owned by hedge funds and other institutional investors.
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About Ormat Technologies (NYSE:ORA)
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, New Zealand, and internationally. The company operates through three segments: Electricity, Product, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity.
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