Analysts Set Ormat Technologies, Inc. (NYSE:ORA) PT at $130.75

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $130.75.

ORA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Oppenheimer raised their target price on shares of Ormat Technologies from $141.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Royal Bank Of Canada restated an “outperform” rating and set a $130.00 target price on shares of Ormat Technologies in a research report on Wednesday, September 9th. Sanford C. Bernstein raised shares of Ormat Technologies from an “underperform” rating to a “market perform” rating and set a $112.00 price target on the stock in a report on Friday, September 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $117.00 price target on shares of Ormat Technologies in a research report on Wednesday, September 9th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Ormat Technologies during the 2nd quarter worth approximately $896,374,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Ormat Technologies in the 2nd quarter valued at $259,568,000. Geode Capital Management LLC boosted its holdings in Ormat Technologies by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock worth $178,033,000 after buying an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Ormat Technologies during the second quarter worth $173,638,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Ormat Technologies by 32.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock valued at $128,469,000 after buying an additional 282,583 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Up 0.1%

Ormat Technologies stock opened at $97.39 on Monday. The business’s 50-day simple moving average is $103.77 and its two-hundred day simple moving average is $114.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market cap of $5.99 billion, a PE ratio of 47.98, a PEG ratio of 3.74 and a beta of 0.90. Ormat Technologies has a fifty-two week low of $90.62 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The firm had revenue of $258.76 million during the quarter, compared to the consensus estimate of $240.03 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Ormat Technologies will post 2.6 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 19th. Ormat Technologies’s dividend payout ratio (DPR) is 23.65%.

About Ormat Technologies

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates geothermal, recovered energy, and energy storage facilities. The company also designs and manufactures equipment used to generate electricity from geothermal resources and waste heat, including its Ormat Energy Converter systems.

Ormat’s geothermal activities include the exploration and development of geothermal resources, power plant construction, and long-term operation and maintenance. Its recovered energy business converts industrial waste heat and other low-temperature heat sources into electricity.