Ormat Technologies, Inc. (NYSE:ORA) Receives $128.64 Consensus Price Target from Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $128.6364.

A number of research analysts have weighed in on ORA shares. TD Cowen decreased their price objective on Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Roth Mkm set a $139.00 price objective on Ormat Technologies in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. Robert W. Baird decreased their price objective on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Finally, Royal Bank Of Canada started coverage on Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 price objective on the stock.

Insiders Place Their Bets

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider owned 3,433 shares in the company, valued at approximately $361,014.28. This trade represents a 40.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 3,364 shares of company stock valued at $353,621. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Ormat Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies in the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ormat Technologies in the 4th quarter worth $31,000. Smartleaf Asset Management LLC increased its stake in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after acquiring an additional 211 shares during the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter worth $33,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies in the 4th quarter worth $32,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Trading Up 0.2%

Shares of NYSE:ORA opened at $113.27 on Friday. Ormat Technologies has a 1 year low of $70.02 and a 1 year high of $132.58. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 56.35, a price-to-earnings-growth ratio of 4.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75. The business’s 50 day moving average price is $112.82 and its 200-day moving average price is $112.85.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. On average, equities research analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a $0.12 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.88%.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.