Ormat Technologies, Inc. (NYSE:ORA) Receives $81.67 Consensus PT from Brokerages

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

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 16th. Roth Mkm reaffirmed a "buy" rating and issued a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a report on Friday. Finally, Oppenheimer lifted their price objective on Ormat Technologies from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday.

Ormat Technologies Stock Performance

ORA traded up $0.04 on Friday, hitting $83.09. The company's stock had a trading volume of 543,545 shares, compared to its average volume of 404,361. Ormat Technologies has a 12 month low of $58.73 and a 12 month high of $83.85. The firm has a market cap of $5.02 billion, a P/E ratio of 42.39, a price-to-earnings-growth ratio of 4.28 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 company's 50 day simple moving average is $76.79 and its 200-day simple moving average is $73.95.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analysts' expectations of $214.07 million. Ormat Technologies had a return on equity of 5.29% and a net margin of 13.33%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Analysts forecast that Ormat Technologies will post 1.92 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies's dividend payout ratio (DPR) is currently 24.49%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now directly owns 6,906 shares in the company, valued at $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dafna Sharir sold 433 shares of the business'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 sale, the director now owns 3,561 shares of the company's stock, valued at approximately $266,754.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of Ormat Technologies by 10.5% during the third quarter. Advisors Asset Management Inc. now owns 11,227 shares of the energy company's stock valued at $864,000 after purchasing an additional 1,070 shares during the period. Global Alpha Capital Management Ltd. boosted its position in Ormat Technologies by 6.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company's stock valued at $188,125,000 after buying an additional 140,882 shares during the period. Banque Cantonale Vaudoise increased its position in shares of Ormat Technologies by 9.2% in the third quarter. Banque Cantonale Vaudoise now owns 19,063 shares of the energy company's stock valued at $1,467,000 after acquiring an additional 1,612 shares during the period. Caprock Group LLC bought a new position in shares of Ormat Technologies during the third quarter valued at about $450,000. Finally, Pathstone Holdings LLC boosted its holdings in shares of Ormat Technologies by 2.4% during the third quarter. Pathstone Holdings LLC now owns 17,729 shares of the energy company's stock worth $1,364,000 after purchasing an additional 422 shares during the period. 95.49% of the stock is owned by institutional investors.

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.