Analysts Set Ormat Technologies, Inc. (NYSE:ORA) PT at $131.64

Ormat Technologies, Inc. (NYSE:ORA) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $131.6364.

Several equities research analysts have weighed in on ORA shares. Robert W. Baird cut their price target on Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research note on Tuesday, April 21st. UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Roth Mkm reiterated a “buy” rating and set a $135.00 price objective on shares of Ormat Technologies in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research note on Friday, May 8th.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, CFO Assi Ginzburg sold 17,776 shares of Ormat Technologies stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the completion of the transaction, the chief financial officer owned 1,970 shares in the company, valued at approximately $265,457.50. This trade represents a 90.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider owned 3,433 shares of the company’s stock, valued at $361,014.28. The trade was a 40.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 27,100 shares of company stock worth $3,536,599. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at about $26,000. Main Street Group LTD acquired a new stake in shares of Ormat Technologies during the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Ormat Technologies during the 4th quarter valued at about $33,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $131.52 on Tuesday. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 63.84, a price-to-earnings-growth ratio of 5.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. The business has a fifty day moving average of $113.73 and a 200 day moving average of $114.37. Ormat Technologies has a 1 year low of $70.42 and a 1 year high of $138.51.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. The company had revenue of $403.91 million during the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.97%.The firm’s quarterly revenue was up 75.8% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. As a group, research analysts expect that Ormat Technologies will post 2.33 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

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.