Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $81.00.

A number of analysts have issued reports on the company. TD Cowen reduced their price objective on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, February 23rd. Barclays reduced their price objective on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, February 5th. Finally, Oppenheimer reduced their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th.

Insider Transactions at Ormat Technologies

In other news, Director Stanley Stern sold 1,825 shares of Ormat Technologies stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total value of $122,183.75. Following the completion of the transaction, the director now owns 4,835 shares in the company, valued at approximately $323,703.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

Large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC boosted 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 valued at $227,000 after acquiring an additional 272 shares during the period. GAMMA Investing LLC purchased a new position in Ormat Technologies during the 4th quarter valued at $32,000. IFP Advisors Inc boosted its holdings in Ormat Technologies by 248.0% during the 2nd quarter. IFP Advisors Inc now owns 428 shares of the energy company’s stock valued at $34,000 after acquiring an additional 305 shares during the period. Manchester Capital Management LLC boosted its holdings in Ormat Technologies by 593.0% during the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after acquiring an additional 682 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 43.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the energy company’s stock valued at $87,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 1.3 %

Shares of ORA opened at $63.75 on Monday. The business’s 50 day moving average is $65.08 and its 200 day moving average is $67.06. The company has a market capitalization of $3.85 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.89 and a beta of 0.48. Ormat Technologies has a 12-month low of $58.73 and a 12-month high of $88.64. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. Research analysts expect that Ormat Technologies will post 2.14 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is 22.97%.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, 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.