Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $84.50.

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

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Several large investors have recently added to or reduced their stakes in the company. Susquehanna International Group Ltd. acquired a new position in Ormat Technologies in the second quarter valued at approximately $1,006,000. Tidal Investments LLC boosted its holdings in Ormat Technologies by 433.4% during the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company’s stock worth $998,000 after buying an additional 12,249 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in Ormat Technologies by 1,011.5% in the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company’s stock valued at $34,943,000 after buying an additional 449,209 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Ormat Technologies in the third quarter worth about $522,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Ormat Technologies by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after acquiring an additional 15,004 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Up 0.1 %

Shares of NYSE:ORA opened at $81.70 on Tuesday. 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 has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a 50-day moving average price of $78.89 and a 200 day moving average price of $75.57. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 4.22 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating 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 the consensus estimate of $215.53 million. During the same quarter last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Ormat Technologies will post 1.93 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 24.49%.

About Ormat Technologies

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.