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

Ormat Technologies, Inc. (NYSE:ORA) has been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $82.25.

A number of equities analysts recently issued reports on the company. Oppenheimer raised their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Piper Sandler started coverage on shares of Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Ormat Technologies in a research note on Friday, January 10th. They set a “hold” rating and a $73.00 price objective for the company.

Ormat Technologies Stock Down 1.0 %

Ormat Technologies stock opened at $66.45 on Wednesday. The business has a fifty day moving average price of $73.43 and a 200-day moving average price of $75.01. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $211.80 million for the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities research analysts forecast that Ormat Technologies will post 1.94 EPS for the current fiscal 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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, November 20th. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Activity at Ormat Technologies

In related news, major shareholder Corp Orix sold 3,700,000 shares of Ormat Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $75.38, for a total value of $278,906,000.00. Following the sale, the insider now owns 2,976,077 shares of the company’s stock, valued at approximately $224,336,684.26. This trade represents a 55.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Granot sold 1,256 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the completion of the sale, the director now directly owns 3,576 shares of the company’s stock, valued at approximately $293,232. The trade was a 25.99 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Institutional Trading of Ormat Technologies

Several institutional investors have recently modified their holdings of ORA. Blue Trust Inc. grew its holdings in shares of Ormat Technologies by 180.3% during the third quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Versant Capital Management Inc boosted its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after acquiring an additional 229 shares during the last quarter. UMB Bank n.a. grew its stake in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC raised its holdings in Ormat Technologies by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock valued at $81,000 after acquiring an additional 321 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new position in Ormat Technologies in the 4th quarter worth approximately $98,000. Institutional investors and hedge funds 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.