Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $129.0909.

A number of brokerages have recently commented on ORA. UBS Group cut their price objective on shares of Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Royal Bank Of Canada initiated coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They set an “outperform” rating and a $130.00 price objective on the stock. Roth Mkm set a $139.00 target price on Ormat Technologies in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research report on Thursday, January 22nd. Finally, Robert W. Baird decreased their price target on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th.

Ormat Technologies Trading Up 0.0%

Shares of ORA stock opened at $112.02 on Monday. Ormat Technologies has a 1 year low of $64.39 and a 1 year high of $132.58. The firm’s fifty day simple moving average is $116.20 and its 200 day simple moving average is $110.82. The firm has a market capitalization of $6.82 billion, a P/E ratio of 55.73, a price-to-earnings-growth ratio of 4.73 and a beta of 0.84. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $276.04 million during the quarter, compared to the consensus estimate of $257.75 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The business’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. As a group, sell-side analysts predict that Ormat Technologies will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.88%.

Insiders Place Their Bets

In other news, insider Jessica Woelfel sold 2,359 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the sale, the insider directly owned 3,433 shares in the company, valued at approximately $361,014.28. This represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 3,364 shares of company stock worth $353,621 over the last 90 days. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ormat Technologies

Several large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in Ormat Technologies during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ormat Technologies during the fourth quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies during the fourth quarter worth approximately $32,000. Wolff Wiese Magana LLC bought a new position in shares of Ormat Technologies in the fourth quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after acquiring an additional 211 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.