Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of “Hold” by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $92.83.

Several equities analysts recently issued reports on ORA shares. StockNews.com lowered Ormat Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Oppenheimer lowered their price target on Ormat Technologies from $106.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. Roth Mkm lowered their price objective on Ormat Technologies from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, February 27th. Bank of America began coverage on Ormat Technologies in a report on Tuesday, November 22nd. They issued a “neutral” rating for the company. Finally, UBS Group raised Ormat Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $105.00 in a research note on Wednesday, March 1st.

Ormat Technologies Trading Down 4.1 %

Shares of ORA opened at $80.39 on Friday. Ormat Technologies has a 12-month low of $67.28 and a 12-month high of $101.81. The company has a quick ratio of 1.26, a current ratio of 1.33 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 68.71, a P/E/G ratio of 4.60 and a beta of 0.48. The stock’s 50-day moving average price is $89.16 and its 200 day moving average price is $89.97.

Ormat Technologies (NYSE:ORA – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The energy company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.25. Ormat Technologies had a return on equity of 4.60% and a net margin of 8.97%. The firm had revenue of $205.50 million for the quarter, compared to analyst estimates of $199.33 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Ormat Technologies will post 1.8 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. Ormat Technologies’s payout ratio is presently 41.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ORA. Creative Planning raised its holdings in shares of Ormat Technologies by 2.1% in the second quarter. Creative Planning now owns 5,429 shares of the energy company’s stock valued at $425,000 after buying an additional 111 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Ormat Technologies by 30.0% in the third quarter. IFP Advisors Inc now owns 533 shares of the energy company’s stock valued at $27,000 after buying an additional 123 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Ormat Technologies by 4.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,097 shares of the energy company’s stock valued at $268,000 after buying an additional 131 shares during the last quarter. Toroso Investments LLC raised its holdings in shares of Ormat Technologies by 15.8% in the third quarter. Toroso Investments LLC now owns 1,065 shares of the energy company’s stock valued at $91,000 after buying an additional 145 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its holdings in shares of Ormat Technologies by 0.6% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 24,917 shares of the energy company’s stock valued at $2,155,000 after buying an additional 150 shares during the last quarter. 81.74% of the stock is owned by institutional investors.

Ormat Technologies Company Profile

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Ormat Technologies, Inc operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company’s power plants pursuant to power purchase agreements.