Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) Price Target at $81.67

Ormat Technologies, Inc. (NYSE:ORA) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $81.67.

A number of equities research analysts recently commented on ORA shares. Roth Mkm reissued a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Oppenheimer lifted their price objective on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th.

Insiders Place Their Bets

In related news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dafna Sharir sold 433 shares of Ormat Technologies stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 320 shares during the period. EntryPoint Capital LLC acquired a new position in Ormat Technologies during the first quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after buying an additional 391 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Ormat Technologies by 50.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after buying an additional 514 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Ormat Technologies in the first quarter worth $246,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Ormat Technologies Trading Up 2.3 %

Shares of ORA opened at $78.79 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average is $74.70 and its two-hundred day moving average is $72.22. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $78.80. The firm has a market capitalization of $4.76 billion, a P/E ratio of 35.49, a PEG ratio of 3.92 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business had revenue of $212.96 million for the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 annualized dividend and a yield of 0.61%. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

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.