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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat 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 updated their coverage on the stock in the last year is $84.50.

A number of research firms have recently weighed in on ORA. Oppenheimer boosted their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reissued a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th.

Insider Activity at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Granot sold 1,256 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares of the company’s stock, valued at $293,232. The trade was a 25.99 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 229 shares during the period. UMB Bank n.a. raised its holdings in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after buying an additional 320 shares during the period. GAMMA Investing LLC raised its holdings in Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after buying an additional 391 shares during the period. DMC Group LLC bought a new position in Ormat Technologies in the third quarter valued at approximately $204,000. Finally, Virtu Financial LLC acquired a new position in shares of Ormat Technologies in the first quarter valued at approximately $246,000. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Trading Up 1.0 %

ORA opened at $78.99 on Tuesday. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30. The stock has a market capitalization of $4.78 billion, a PE ratio of 40.30, a PEG ratio of 4.07 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $79.18 and a two-hundred day moving average price of $75.80.

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, beating analysts’ consensus estimates 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 quarter last year, the business posted $0.47 earnings per share. Ormat Technologies’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ormat Technologies will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

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

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.