Ormat Technologies (NYSE:ORA) Price Target Raised to $86.00

Ormat Technologies (NYSE:ORA) had its price target lifted by Jefferies Financial Group from $78.00 to $86.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the energy company’s stock.

Several other analysts have also recently commented on the stock. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird assumed coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Piper Sandler started coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Ormat Technologies presently has an average rating of “Hold” and an average price target of $83.56.

Ormat Technologies Stock Up 0.4 %

Shares of ORA stock opened at $70.10 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market cap of $4.24 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. Ormat Technologies has a one year low of $59.41 and a one year high of $84.30. The stock has a fifty day moving average price of $67.52 and a 200 day moving average price of $72.85.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ormat Technologies’s payout ratio is 23.53%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica Woelfel sold 409 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the sale, the insider now owns 6,094 shares in the company, valued at approximately $439,682.10. The trade was a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,242 shares of company stock worth $156,427 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently modified their holdings of ORA. Pathstone Holdings LLC boosted its position in shares of Ormat Technologies by 2.4% during the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company’s stock valued at $1,364,000 after buying an additional 422 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Ormat Technologies by 10.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,227 shares of the energy company’s stock worth $864,000 after acquiring an additional 1,070 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Ormat Technologies in the 3rd quarter worth $895,000. Cerity Partners LLC raised its holdings in shares of Ormat Technologies by 62.5% in the third quarter. Cerity Partners LLC now owns 5,496 shares of the energy company’s stock valued at $423,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Ormat Technologies by 2.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 182,939 shares of the energy company’s stock valued at $14,075,000 after purchasing an additional 4,722 shares in the last quarter. 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.