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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $81.00.

Several research firms have recently weighed in on ORA. Oppenheimer dropped their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Barclays lowered their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. Finally, TD Cowen lowered their price objective on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, February 23rd.

Ormat Technologies Price Performance

ORA opened at $63.10 on Monday. The company has a 50-day moving average of $64.96 and a 200-day moving average of $67.00. The company has a market capitalization of $3.81 billion, a P/E ratio of 30.19, a PEG ratio of 3.04 and a beta of 0.48. Ormat Technologies has a 1-year low of $58.73 and a 1-year high of $88.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $241.30 million during the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. Equities analysts expect that Ormat Technologies will post 2.14 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, March 5th. Ormat Technologies’s payout ratio is 22.97%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the transaction, the director now directly owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of Ormat Technologies by 622.8% in the 3rd quarter. SG Americas Securities LLC now owns 20,787 shares of the energy company’s stock worth $1,453,000 after acquiring an additional 17,911 shares during the period. LGT Capital Partners LTD. lifted its stake in shares of Ormat Technologies by 6.0% in the 3rd quarter. LGT Capital Partners LTD. now owns 414,380 shares of the energy company’s stock worth $28,973,000 after acquiring an additional 23,300 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Ormat Technologies in the 3rd quarter worth approximately $230,000. Ballentine Partners LLC acquired a new stake in shares of Ormat Technologies in the 3rd quarter worth approximately $317,000. Finally, Raymond James & Associates lifted its stake in shares of Ormat Technologies by 3.0% in the 3rd quarter. Raymond James & Associates now owns 10,923 shares of the energy company’s stock worth $764,000 after acquiring an additional 317 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

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.