Hsbc Holdings PLC Acquires New Position in Ormat Technologies, Inc. $ORA

Hsbc Holdings PLC acquired a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,082 shares of the energy company’s stock, valued at approximately $1,969,000.

A number of other institutional investors have also modified their holdings of ORA. Legato Capital Management LLC bought a new stake in Ormat Technologies during the 4th quarter valued at $1,319,000. Deutsche Bank AG purchased a new stake in shares of Ormat Technologies in the 2nd quarter worth $42,015,000. Jennison Associates LLC grew its position in shares of Ormat Technologies by 51.7% during the 4th quarter. Jennison Associates LLC now owns 90,753 shares of the energy company’s stock worth $10,025,000 after buying an additional 30,910 shares in the last quarter. Trillium Asset Management LLC bought a new position in shares of Ormat Technologies during the 2nd quarter worth $16,106,000. Finally, Nicholas Investment Partners LP purchased a new position in shares of Ormat Technologies during the fourth quarter valued at $4,835,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Trading Up 0.1%

Shares of NYSE ORA opened at $103.11 on Monday. Ormat Technologies, Inc. has a 1-year low of $89.08 and a 1-year high of $146.39. The business has a fifty day moving average price of $108.28 and a 200 day moving average price of $115.91. The stock has a market capitalization of $6.34 billion, a P/E ratio of 50.79, a price-to-earnings-growth ratio of 4.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. The company had revenue of $258.76 million for the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Equities research analysts expect that Ormat Technologies, Inc. will post 2.47 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies’s payout ratio is presently 23.65%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Oppenheimer reduced their price target on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.83.

Ormat Technologies Profile

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.