Ormat Technologies (NYSE:ORA) Price Target Raised to $86.00 at Jefferies Financial Group

Ormat Technologies (NYSE:ORA) had its target price boosted by Jefferies Financial Group from $78.00 to $86.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

A number of other equities analysts have also commented on ORA. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler started coverage on shares of Ormat Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $78.00 price target for the company. Robert W. Baird assumed coverage on shares of Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.56.

Ormat Technologies Stock Up 0.4 %

ORA stock opened at $70.10 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 3.18 and a beta of 0.51. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30. The stock has a fifty day moving average of $67.52 and a 200-day moving average of $72.85.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.68%. Ormat Technologies’s dividend payout ratio is presently 23.53%.

Insider Buying and Selling

In other news, insider Jessica Woelfel sold 409 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Granot sold 1,666 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at $131,790. This represents a 46.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Ormat Technologies by 132.4% during the 4th quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at $34,000. AlphaQuest LLC lifted its holdings in shares of Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after acquiring an additional 563 shares during the last quarter. Headlands Technologies LLC bought a new position in Ormat Technologies during the 4th quarter valued at about $66,000. Finally, Mendota Financial Group LLC purchased a new stake in Ormat Technologies in the 4th quarter worth about $98,000. 95.49% of the stock is currently owned by institutional investors.

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.