Oppenheimer Issues Positive Forecast for Ormat Technologies (NYSE:ORA) Stock Price

Ormat Technologies (NYSE:ORA) had its target price hoisted by Oppenheimer from $86.00 to $91.00 in a research note issued to investors on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the energy company’s stock.

Other research analysts also recently issued research reports about the stock. Roth Mkm reissued a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Stock Up 0.9 %

Shares of NYSE ORA opened at $83.84 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.89. The firm’s 50-day moving average is $77.14 and its two-hundred day moving average is $74.35. Ormat Technologies has a 12-month low of $58.73 and a 12-month high of $84.30. The company has a market capitalization of $5.07 billion, a PE ratio of 42.78, a price-to-earnings-growth ratio of 4.34 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $215.53 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Ormat Technologies’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts anticipate that Ormat Technologies will post 1.9 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is 24.49%.

Insiders Place Their Bets

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

Institutional Trading of Ormat Technologies

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake 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 worth $26,000 after purchasing an additional 229 shares in the last quarter. UMB Bank n.a. lifted its position in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Ormat Technologies in the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its holdings in Ormat Technologies by 115.3% in the 2nd 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 acquired a new stake in Ormat Technologies in the third quarter valued at approximately $204,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.