Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) Target Price at $81.67

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $81.67.

A number of research firms have issued reports on ORA. Oppenheimer lifted their price objective on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Roth Mkm reissued a "buy" rating and issued a $80.00 price objective on shares of Ormat Technologies in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 16th.

Ormat Technologies Stock Up 1.2 %

ORA stock traded up $0.91 during trading hours on Monday, hitting $76.91. The company's stock had a trading volume of 249,114 shares, compared to its average volume of 436,933. The company has a market capitalization of $4.65 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.53. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $74.43 and a two-hundred day moving average price of $72.02. Ormat Technologies has a 12 month low of $58.73 and a 12 month high of $78.51.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The firm had revenue of $212.96 million during the quarter, compared to analysts' expectations of $214.07 million. During the same quarter in the previous year, the company posted $0.40 EPS. Ormat Technologies's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.62%. Ormat Technologies's payout ratio is currently 21.62%.

Insiders Place Their Bets

In other news, Director Dafna Sharir sold 433 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the transaction, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Byron G. Wong sold 1,266 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the sale, the director now owns 6,906 shares of the company's stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dafna Sharir sold 433 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total transaction of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company's stock valued at $356,670,000 after purchasing an additional 63,943 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company's stock worth $104,030,000 after purchasing an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in Ormat Technologies by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company's stock valued at $94,855,000 after purchasing an additional 25,799 shares during the period. Wellington Management Group LLP grew its stake in shares of Ormat Technologies by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 1,041,169 shares of the energy company's stock worth $78,910,000 after purchasing an additional 35,665 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Ormat Technologies by 2.8% during the 2nd 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 during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

About Ormat Technologies

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.