Shares of Ormat Technologies, Inc. (NYSE:ORA) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.80.
Several equities analysts recently weighed in on ORA shares. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, July 18th. TheStreet cut shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Guggenheim cut shares of Ormat Technologies from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Wednesday, June 13th. Finally, JPMorgan Chase & Co. raised shares of Ormat Technologies from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $64.00 to $60.00 in a research report on Thursday, August 9th.
In other Ormat Technologies news, EVP Bob Sullivan sold 20,329 shares of Ormat Technologies stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the transaction, the executive vice president now owns 23,329 shares of the company’s stock, valued at approximately $1,328,353.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Ormat Technologies by 10.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 157,466 shares of the energy company’s stock worth $8,376,000 after buying an additional 14,469 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ormat Technologies by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,543,463 shares of the energy company’s stock worth $87,020,000 after purchasing an additional 59,441 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Ormat Technologies by 36.6% during the 2nd quarter. Bank of Montreal Can now owns 7,668 shares of the energy company’s stock worth $408,000 after purchasing an additional 2,055 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Ormat Technologies by 1.4% during the 2nd quarter. Van ECK Associates Corp now owns 392,020 shares of the energy company’s stock worth $20,852,000 after purchasing an additional 5,519 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC increased its stake in shares of Ormat Technologies by 23.9% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 40,540 shares of the energy company’s stock worth $2,156,000 after purchasing an additional 7,815 shares during the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ORA traded down $0.14 during trading hours on Thursday, hitting $53.49. The company’s stock had a trading volume of 4,864 shares, compared to its average volume of 204,729. Ormat Technologies has a 52 week low of $45.79 and a 52 week high of $70.68. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.88 and a beta of 1.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.16.
Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.17). Ormat Technologies had a net margin of 18.88% and a return on equity of 9.60%. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $176.06 million. sell-side analysts predict that Ormat Technologies will post 1.71 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 29th. Shareholders of record on Tuesday, August 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, August 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. Ormat Technologies’s dividend payout ratio is currently 13.38%.
Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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