Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of “Moderate Buy” by Brokerages

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $81.67.

Several research analysts have issued reports on ORA shares. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Oppenheimer raised their target price on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Roth Mkm restated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th.

Ormat Technologies Trading Up 1.3 %

Shares of Ormat Technologies stock opened at $78.31 on Monday. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $78.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $4.73 billion, a P/E ratio of 35.76, a PEG ratio of 3.97 and a beta of 0.53. The company’s fifty day moving average is $74.78 and its two-hundred day moving average is $72.26.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million for the quarter, compared to the consensus estimate of $214.07 million. During the same period last year, the firm posted $0.40 EPS. Ormat Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is 21.92%.

Insider Activity at Ormat Technologies

In related news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the sale, the director now owns 3,561 shares in the company, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in 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 acquiring an additional 229 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after buying an additional 391 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Ormat Technologies during the first quarter worth about $50,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after buying an additional 514 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.