Analysts Set Ormat Technologies, Inc. (NYSE:ORA) PT at $84.29

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $84.29.

ORA has been the topic of several recent research reports. TD Cowen increased their price objective on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, May 10th. UBS Group increased their price objective on Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Barclays reduced their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th.

Insider Buying and Selling

In related news, Director Stanley Stern sold 1,825 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now directly owns 4,835 shares in the company, valued at approximately $323,703.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Guinness Asset Management LTD lifted its holdings in Ormat Technologies by 5.7% in the 3rd quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock worth $36,234,000 after buying an additional 28,058 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in Ormat Technologies by 1.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after buying an additional 194 shares during the period. Evexia Wealth LLC lifted its holdings in Ormat Technologies by 2.7% in the 4th quarter. Evexia Wealth LLC now owns 6,096 shares of the energy company’s stock worth $462,000 after buying an additional 160 shares during the period. LGT Capital Partners LTD. lifted its holdings in Ormat Technologies by 26.6% in the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after buying an additional 110,330 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ormat Technologies by 25.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company’s stock worth $65,500,000 after buying an additional 172,934 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

NYSE:ORA opened at $72.55 on Friday. The business’s 50-day moving average price is $66.42 and its two-hundred day moving average price is $67.54. Ormat Technologies has a twelve month low of $58.73 and a twelve month high of $88.26. The stock has a market cap of $4.38 billion, a P/E ratio of 32.68, a PEG ratio of 3.49 and a beta of 0.48. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. The firm had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Ormat Technologies will post 2.07 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.66%. Ormat Technologies’s payout ratio is 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.