Ormat Technologies (NYSE:ORA) Price Target Raised to $135.00

Ormat Technologies (NYSE:ORA) had its target price hoisted by UBS Group from $105.00 to $135.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Other research analysts have also issued reports about the company. TD Cowen upped their price target on Ormat Technologies from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Barclays increased their price target on shares of Ormat Technologies from $89.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday. Roth Capital reiterated a “buy” rating and issued a $125.00 price objective on shares of Ormat Technologies in a research note on Wednesday. Robert W. Baird raised shares of Ormat Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $103.00 in a research note on Wednesday, July 30th. Finally, Oppenheimer restated an “outperform” rating and set a $125.00 price target on shares of Ormat Technologies in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Ormat Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Ormat Technologies Trading Up 1.1%

Shares of Ormat Technologies stock traded up $1.30 during trading on Friday, hitting $114.78. The stock had a trading volume of 105,222 shares, compared to its average volume of 528,474. Ormat Technologies has a 1 year low of $61.58 and a 1 year high of $115.72. The stock has a 50 day simple moving average of $100.51 and a 200 day simple moving average of $88.83. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $6.97 billion, a PE ratio of 53.24, a P/E/G ratio of 4.84 and a beta of 0.77.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Monday, November 3rd. The energy company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm had revenue of $249.73 million during the quarter, compared to analyst estimates of $235.03 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 17.9% on a year-over-year basis. Ormat Technologies has set its FY 2025 guidance at EPS. On average, research analysts expect that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is currently 22.02%.

Insider Activity at Ormat Technologies

In other news, CFO Assi Ginzburg sold 9,343 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the completion of the transaction, the chief financial officer directly owned 24,482 shares of the company’s stock, valued at approximately $2,284,415.42. This trade represents a 27.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stanley Stern sold 400 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $95.98, for a total transaction of $38,392.00. Following the completion of the transaction, the director directly owned 4,861 shares of the company’s stock, valued at $466,558.78. This trade represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 40,926 shares of company stock valued at $3,861,296. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ormat Technologies

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new stake in Ormat Technologies during the 1st quarter worth about $593,000. Empower Advisory Group LLC raised its stake in shares of Ormat Technologies by 6.5% during the first quarter. Empower Advisory Group LLC now owns 215,327 shares of the energy company’s stock worth $15,239,000 after buying an additional 13,061 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in Ormat Technologies by 2,293.3% in the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company’s stock valued at $479,000 after buying an additional 6,490 shares during the period. Sequoia Financial Advisors LLC bought a new position in Ormat Technologies in the second quarter valued at approximately $358,000. Finally, Voya Investment Management LLC grew its holdings in Ormat Technologies by 19.2% during the 1st quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company’s stock worth $6,837,000 after acquiring an additional 15,532 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Company Profile

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.