Jupiter Asset Management Ltd. Has $8.59 Million Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Jupiter Asset Management Ltd. reduced its stake in Ormat Technologies, Inc. (NYSE:ORA) by 39.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,493 shares of the energy company’s stock after selling 72,369 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.20% of Ormat Technologies worth $8,589,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc bought a new stake in Ormat Technologies in the first quarter worth approximately $31,000. CI Investments Inc. increased its holdings in Ormat Technologies by 139.2% in the fourth quarter. CI Investments Inc. now owns 519 shares of the energy company’s stock worth $47,000 after purchasing an additional 302 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Ormat Technologies by 428.2% in the first quarter. Rockefeller Capital Management L.P. now owns 956 shares of the energy company’s stock worth $75,000 after purchasing an additional 775 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Ormat Technologies by 18.7% in the first quarter. Centaurus Financial Inc. now owns 1,723 shares of the energy company’s stock worth $135,000 after purchasing an additional 271 shares in the last quarter. Finally, Strs Ohio increased its holdings in Ormat Technologies by 91.7% in the fourth quarter. Strs Ohio now owns 2,300 shares of the energy company’s stock worth $207,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 88.99% of the company’s stock.

A number of equities research analysts have weighed in on ORA shares. Oppenheimer reiterated a “buy” rating and issued a $100.00 target price on shares of Ormat Technologies in a report on Tuesday, April 27th. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c” rating in a report on Monday, May 24th. JPMorgan Chase & Co. decreased their price objective on Ormat Technologies from $96.00 to $81.00 and set a “neutral” rating for the company in a report on Monday, March 8th. Finally, Cowen decreased their price objective on Ormat Technologies from $91.00 to $72.00 and set a “market perform” rating for the company in a report on Friday, May 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $85.83.

NYSE ORA opened at $70.81 on Friday. The company has a market capitalization of $3.96 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 4.14 and a beta of 0.31. Ormat Technologies, Inc. has a 52 week low of $53.44 and a 52 week high of $128.87. The firm’s 50 day moving average price is $71.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.70 and a current ratio of 2.85.

Ormat Technologies (NYSE:ORA) last announced its earnings results on Wednesday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The company had revenue of $166.35 million for the quarter, compared to analysts’ expectations of $165.73 million. Ormat Technologies had a return on equity of 4.76% and a net margin of 10.99%. On average, equities analysts expect that Ormat Technologies, Inc. will post 1.44 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Tuesday, May 18th were given a dividend of $0.12 per share. The ex-dividend date was Monday, May 17th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ormat Technologies’s payout ratio is 29.09%.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. The company operates through three segments: Electricity, Product, and Energy Storage.

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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