Oppenheimer Increases Ormat Technologies (NYSE:ORA) Price Target to $91.00

Ormat Technologies (NYSE:ORA - Free Report) had its price target boosted by Oppenheimer from $86.00 to $91.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the energy company's stock.

ORA has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 16th. Roth Mkm restated a "buy" rating and issued a $80.00 price target on shares of Ormat Technologies in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $84.50.

Ormat Technologies Stock Performance

Shares of NYSE:ORA traded up $0.04 during trading on Friday, reaching $83.09. 543,545 shares of the company's stock traded hands, 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 company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89. The stock has a market capitalization 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 50 day moving average of $76.79 and a 200-day moving average of $73.95.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. The company had revenue of $212.96 million during the quarter, compared to analyst estimates of $214.07 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.29%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. On average, equities analysts expect that Ormat Technologies will post 1.92 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, November 20th. Ormat Technologies's dividend payout ratio is presently 24.49%.

Insider Transactions at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies 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 completion of the sale, the director now owns 6,906 shares in the company, valued at $517,811.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $74.91, for a total transaction of $32,436.03. Following the sale, the director now directly owns 3,561 shares of the company's stock, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the company's stock in a transaction on 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 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 disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in Ormat Technologies by 180.3% in the third quarter. Blue Trust Inc. now owns 356 shares of the energy company's stock valued at $26,000 after purchasing an additional 229 shares in the last quarter. UMB Bank n.a. raised its holdings in Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company's stock worth $47,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ormat Technologies by 115.3% during the 2nd quarter. GAMMA Investing LLC now owns 730 shares of the energy company's stock worth $52,000 after purchasing an additional 391 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Ormat Technologies in the 1st quarter valued at $50,000. Finally, DMC Group LLC bought a new stake in shares of Ormat Technologies in the 3rd quarter valued at $204,000. 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.