Ormat Technologies (NYSE:ORA) Given Buy Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of Ormat Technologies (NYSE:ORA) in a report released on Friday morning,Benzinga reports. Roth Mkm currently has a $92.00 price objective on the energy company’s stock, up from their prior price objective of $87.00.

A number of other research analysts have also recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Ormat Technologies Trading Up 0.1 %

Shares of NYSE:ORA traded up $0.08 during trading on Friday, reaching $83.13. The company’s stock had a trading volume of 543,545 shares, compared to its average volume of 404,361. The stock has a market capitalization of $5.03 billion, a PE ratio of 42.39, a price-to-earnings-growth ratio of 4.28 and a beta of 0.53. Ormat Technologies has a 12 month low of $58.73 and a 12 month high of $83.85. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The firm’s 50 day simple moving average is $76.96 and its two-hundred day simple moving average is $74.08.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.29% and a net margin of 13.33%. The firm had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Ormat Technologies will post 1.92 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insiders Place Their Bets

In other news, Director Dafna Sharir sold 433 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the sale, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Byron G. Wong sold 1,266 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now directly owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Ormat Technologies by 107.7% during the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after purchasing an additional 320 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Ormat Technologies in the first quarter worth $50,000. GAMMA Investing LLC increased its stake in shares of Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after acquiring an additional 391 shares during the period. Finally, DMC Group LLC purchased a new position in shares of Ormat Technologies during the third quarter worth $204,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.