Ormat Technologies (NYSE:ORA) Price Target Increased to $86.00 by Analysts at Oppenheimer

Ormat Technologies (NYSE:ORA) had its target price increased by Oppenheimer from $85.00 to $86.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on Ormat Technologies from $69.00 to $75.00 and gave the stock a neutral rating in a research report on Tuesday, July 16th. TD Cowen upped their target price on Ormat Technologies from $70.00 to $76.00 and gave the stock a hold rating in a research report on Friday, May 10th. UBS Group increased their price objective on Ormat Technologies from $95.00 to $100.00 and gave the company a buy rating in a report on Tuesday, May 14th. Finally, Barclays lowered their price objective on Ormat Technologies from $75.00 to $73.00 and set an equal weight rating on the stock in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $82.00.

Ormat Technologies Stock Down 0.9 %

ORA stock traded down $0.67 during mid-day trading on Thursday, hitting $72.51. The stock had a trading volume of 319,062 shares, compared to its average volume of 475,808. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.73. Ormat Technologies has a 1-year low of $58.73 and a 1-year high of $78.51. The company has a fifty day moving average of $73.84 and a 200 day moving average of $69.11. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.87 and a beta of 0.51.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The company had revenue of $212.96 million for the quarter, compared to analyst estimates of $214.07 million. During the same period in the prior year, the firm posted $0.40 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Ormat Technologies will post 1.98 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, August 20th. Ormat Technologies’s dividend payout ratio is 21.62%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the sale, the director now owns 4,832 shares of the company’s stock, valued at approximately $354,958.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC grew its holdings in Ormat Technologies by 9,066.7% in the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock valued at $227,000 after buying an additional 272 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $32,000. EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies in the 1st quarter worth approximately $50,000. Manchester Capital Management LLC lifted its position in shares of Ormat Technologies by 593.0% in the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after acquiring an additional 682 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.