Analysts Set Ormat Technologies, Inc. (NYSE:ORA) Target Price at $84.50

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $84.50.

A number of equities research analysts have recently issued reports on ORA shares. Roth Mkm reiterated a "buy" rating and issued a $92.00 target price (up previously from $87.00) on shares of Ormat Technologies in a research note on Friday, November 8th. Oppenheimer increased their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, November 8th.

Ormat Technologies Trading Down 2.6 %

NYSE:ORA traded down $2.13 on Tuesday, hitting $79.58. 523,898 shares of the stock were exchanged, compared to its average volume of 435,600. The stock has a market cap of $4.81 billion, a PE ratio of 41.68, a PEG ratio of 4.22 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average of $79.01 and a 200-day moving average of $75.63. Ormat Technologies has a fifty-two week low of $59.41 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly 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 analyst estimates of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. As a group, equities analysts expect that Ormat Technologies will post 1.93 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies's dividend payout ratio is presently 24.49%.

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,256 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $82.00, for a total transaction of $102,992.00. Following the transaction, the director now owns 3,576 shares of the company's stock, valued at $293,232. This trade represents a 25.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Byron G. Wong sold 1,266 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was 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 directly owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 15.49 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Ormat Technologies

Several hedge funds have recently made changes to their positions in the stock. Susquehanna International Group Ltd. bought a new stake in Ormat Technologies during the 2nd quarter valued at $1,006,000. Tidal Investments LLC raised its stake in Ormat Technologies by 433.4% during the 1st quarter. Tidal Investments LLC now owns 15,075 shares of the energy company's stock valued at $998,000 after acquiring an additional 12,249 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Ormat Technologies by 1,011.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 493,619 shares of the energy company's stock valued at $34,943,000 after acquiring an additional 449,209 shares in the last quarter. Chesapeake Capital Corp IL bought a new stake in Ormat Technologies during the 3rd quarter valued at $522,000. Finally, Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Institutional investors own 95.49% of the company's stock.

Ormat Technologies Company 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.