Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ormat Technologies, Inc. (NYSE:ORA) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $92.29.

ORA has been the topic of several research reports. Barclays initiated coverage on shares of Ormat Technologies in a research report on Monday, May 22nd. They set an “equal weight” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $86.00 to $89.00 in a research report on Wednesday, July 19th. TheStreet downgraded shares of Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. Roth Capital upgraded shares of Ormat Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, August 7th. Finally, StockNews.com initiated coverage on shares of Ormat Technologies in a research report on Thursday, August 17th. They set a “sell” rating on the stock.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Isaac Angel sold 25,144 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.60, for a total transaction of $1,900,886.40. Following the transaction, the director now directly owns 41,933 shares in the company, valued at approximately $3,170,134.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Doron Blachar sold 11,315 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.58, for a total value of $855,187.70. Following the sale, the chief executive officer now directly owns 17,934 shares in the company, valued at approximately $1,355,451.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Isaac Angel sold 25,144 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.60, for a total transaction of $1,900,886.40. Following the completion of the sale, the director now owns 41,933 shares in the company, valued at $3,170,134.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,032 shares of company stock worth $4,762,366. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Ormat Technologies by 1.5% during the 1st quarter. Rhumbline Advisers now owns 168,295 shares of the energy company’s stock worth $14,266,000 after purchasing an additional 2,426 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Ormat Technologies during the 4th quarter worth approximately $234,000. Mutual of America Capital Management LLC increased its stake in Ormat Technologies by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,215 shares of the energy company’s stock worth $3,579,000 after purchasing an additional 2,186 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Ormat Technologies by 71.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the energy company’s stock worth $198,000 after purchasing an additional 976 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Ormat Technologies by 6.4% during the 1st quarter. Citigroup Inc. now owns 50,067 shares of the energy company’s stock worth $4,244,000 after purchasing an additional 3,003 shares in the last quarter. 88.24% of the stock is owned by institutional investors.

Ormat Technologies Stock Down 1.2 %

ORA opened at $74.59 on Friday. The firm’s 50-day simple moving average is $78.36 and its 200-day simple moving average is $82.30. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.69 and a current ratio of 1.79. Ormat Technologies has a twelve month low of $74.04 and a twelve month high of $101.81. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 1.52 and a beta of 0.45.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, August 2nd. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Ormat Technologies had a net margin of 11.74% and a return on equity of 5.17%. The business had revenue of $194.80 million for the quarter, compared to analyst estimates of $196.74 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that Ormat Technologies will post 2.14 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s payout ratio is presently 30.97%.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.