Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $83.83.

Several analysts have commented on ORA shares. UBS Group increased their target price on Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. TD Cowen lifted their price objective on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Finally, Barclays lowered their target price on shares of Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $73.28 on Tuesday. The stock’s 50 day moving average is $69.64 and its 200 day moving average is $68.72. The company has a market capitalization of $4.43 billion, a P/E ratio of 33.01, a PEG ratio of 3.57 and a beta of 0.53. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $85.82. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.03). The company had revenue of $224.17 million for the quarter, compared to the consensus estimate of $224.38 million. Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. On average, equities research analysts predict that Ormat Technologies will post 2.07 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Insider Buying and Selling

In other Ormat Technologies news, Director David Granot sold 686 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares of the company’s stock, valued at $354,958.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now owns 4,835 shares of the company’s stock, valued at $323,703.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Granot sold 686 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares of the company’s stock, valued at $354,958.72. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TFO Wealth Partners LLC grew its position in shares of Ormat Technologies by 9,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after purchasing an additional 272 shares in the last quarter. GAMMA Investing LLC purchased a new position in Ormat Technologies during the fourth quarter valued at $32,000. EntryPoint Capital LLC purchased a new stake in Ormat Technologies in the 1st quarter worth $50,000. Manchester Capital Management LLC grew its position in shares of Ormat Technologies by 593.0% during the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after purchasing an additional 682 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after buying an additional 514 shares in the last quarter. 95.49% of the stock is 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.