Encompass Capital Advisors LLC Has $34.54 Million Holdings in Ormat Technologies, Inc. $ORA

Encompass Capital Advisors LLC cut its holdings in shares of Ormat Technologies, Inc. (NYSE:ORA) by 51.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 312,675 shares of the energy company’s stock after selling 325,857 shares during the quarter. Ormat Technologies makes up 1.4% of Encompass Capital Advisors LLC’s portfolio, making the stock its 25th biggest position. Encompass Capital Advisors LLC’s holdings in Ormat Technologies were worth $34,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ORA. Aster Capital Management DIFC Ltd acquired a new position in Ormat Technologies during the 4th quarter valued at about $26,000. Los Angeles Capital Management LLC acquired a new position in Ormat Technologies during the 4th quarter valued at about $32,000. Wolff Wiese Magana LLC acquired a new position in Ormat Technologies during the 4th quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its position in Ormat Technologies by 245.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after purchasing an additional 211 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after purchasing an additional 113 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

Shares of NYSE:ORA opened at $126.43 on Thursday. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 61.37, a P/E/G ratio of 5.71 and a beta of 0.85. The firm’s 50 day simple moving average is $125.87 and its 200 day simple moving average is $118.73. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.07 and a quick ratio of 1.02. Ormat Technologies, Inc. has a fifty-two week low of $80.82 and a fifty-two week high of $146.39.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. The business had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. Ormat Technologies’s revenue for the quarter was up 75.8% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, sell-side analysts forecast that Ormat Technologies, Inc. will post 2.35 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.30%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ORA shares. Wolfe Research started coverage on shares of Ormat Technologies in a research report on Monday, June 8th. They set a “peer perform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ormat Technologies in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Robert W. Baird cut their target price on shares of Ormat Technologies from $143.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Sanford C. Bernstein started coverage on shares of Ormat Technologies in a research report on Tuesday. They set an “underperform” rating and a $115.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.67.

Insiders Place Their Bets

In related news, CFO Assi Ginzburg sold 17,776 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $134.75, for a total value of $2,395,316.00. Following the sale, the chief financial officer directly owned 1,970 shares in the company, valued at $265,457.50. This trade represents a 90.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michal Marom sold 3,080 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $130.97, for a total transaction of $403,387.60. Following the completion of the sale, the director owned 1,766 shares in the company, valued at $231,293.02. This represents a 63.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,721 shares of company stock worth $4,105,657 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Ormat Technologies Profile

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.