Northwest & Ethical Investments L.P. Buys New Position in Ormat Technologies, Inc. (NYSE:ORA)

Northwest & Ethical Investments L.P. acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,447 shares of the energy company's stock, valued at approximately $2,650,000. Northwest & Ethical Investments L.P. owned about 0.06% of Ormat Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Susquehanna International Group Ltd. bought a new position in shares of Ormat Technologies during the 2nd quarter valued at $1,006,000. Tidal Investments LLC boosted its position in shares of Ormat Technologies by 433.4% during the first quarter. Tidal Investments LLC now owns 15,075 shares of the energy company's stock valued at $998,000 after buying an additional 12,249 shares during the period. Y.D. More Investments Ltd increased its position in shares of Ormat Technologies by 1,011.5% during the second quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock worth $34,943,000 after acquiring an additional 449,209 shares during the period. Chesapeake Capital Corp IL bought a new position in Ormat Technologies in the third quarter worth approximately $522,000. Finally, Bank of New York Mellon Corp boosted its stake in Ormat Technologies by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company's stock valued at $40,154,000 after acquiring an additional 15,004 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ormat Technologies

In related news, Director Byron G. Wong sold 1,266 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the transaction, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.

Ormat Technologies Stock Up 0.0 %

NYSE ORA traded up $0.03 on Friday, hitting $81.62. 216,535 shares of the stock traded hands, compared to its average volume of 436,237. The company has a market capitalization of $4.94 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. Ormat Technologies, Inc. has a twelve month low of $59.41 and a twelve month high of $84.30. The stock has a 50-day moving average of $78.89 and a 200 day moving average of $75.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $211.80 million during the quarter, compared to analysts' expectations of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company posted $0.47 earnings per share. As a group, analysts expect that Ormat Technologies, Inc. will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies's dividend payout ratio is currently 24.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer upped their target price on Ormat Technologies from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Roth Mkm restated a "buy" rating and set a $92.00 price target (up from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ormat Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $84.50.

Ormat Technologies 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.