Ormat Technologies (NYSE:ORA) Earns Buy Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Ormat Technologies (NYSE:ORA) in a research report released on Monday morning, Benzinga reports. Roth Mkm currently has a $80.00 price objective on the energy company’s stock.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. Oppenheimer lifted their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an outperform rating in a research note on Thursday, August 8th. TD Cowen increased their price target 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 raised 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 reduced their target price on Ormat Technologies from $75.00 to $73.00 and set an equal weight rating for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ormat Technologies currently has a consensus rating of Hold and a consensus target price of $81.67.

Ormat Technologies Stock Up 1.4 %

Shares of ORA opened at $73.73 on Monday. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 3.57 and a beta of 0.51. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $78.51. The stock’s 50-day moving average price is $73.61 and its 200-day moving average price is $69.30. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. Ormat Technologies’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, sell-side analysts predict that Ormat Technologies will post 2.03 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $0.12 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. Ormat Technologies’s payout ratio is currently 21.62%.

Insider Activity

In other Ormat Technologies news, Director David Granot sold 686 shares of the company’s 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 transaction, the director now directly owns 4,832 shares in the company, valued at $354,958.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Several hedge funds have recently made changes to their positions in ORA. TFO Wealth Partners LLC lifted its holdings in Ormat Technologies by 9,066.7% during the 4th quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after buying an additional 272 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Ormat Technologies during the fourth quarter worth $32,000. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies in the first quarter valued at $50,000. Manchester Capital Management LLC boosted its holdings in Ormat Technologies by 593.0% in 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 during the period. Finally, PNC Financial Services Group Inc. grew its stake in Ormat Technologies by 50.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Ormat Technologies

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.