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

Ormat Technologies, Inc. (NYSE:ORA) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $84.50.

ORA has been the topic of several research analyst reports. Oppenheimer boosted their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reissued a “buy” rating and issued a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th.

Ormat Technologies Trading Down 0.6 %

Ormat Technologies stock opened at $78.55 on Tuesday. Ormat Technologies has a 12-month low of $59.41 and a 12-month high of $84.30. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 4.09 and a beta of 0.53. The firm has a 50 day moving average of $79.22 and a 200 day moving average of $75.86. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The firm had revenue of $211.80 million during the quarter, compared to analysts’ expectations of $215.53 million. During the same period in the prior year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Ormat Technologies will post 1.93 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a $0.12 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Buying and Selling at Ormat Technologies

In related news, 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 value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This trade represents a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Granot sold 1,256 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total value of $102,992.00. Following the sale, the director now directly owns 3,576 shares in the company, valued at $293,232. The trade was a 25.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares during the last quarter. Harrington Investments INC grew its holdings in shares of Ormat Technologies by 3.0% in the second quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock worth $570,000 after purchasing an additional 230 shares during the last quarter. Arizona State Retirement System increased its stake in Ormat Technologies by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock worth $1,091,000 after buying an additional 286 shares during the period. UMB Bank n.a. increased its stake in Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after buying an additional 320 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Ormat Technologies by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.