Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $83.50.

A number of research firms have commented on ORA. Oppenheimer lifted their price objective on shares of Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. UBS Group boosted their price objective on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Barclays lowered their target price on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. Finally, TD Cowen boosted their price target on Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, May 10th.

Ormat Technologies Stock Performance

NYSE ORA opened at $75.41 on Wednesday. The firm has a market capitalization of $4.56 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 3.87 and a beta of 0.51. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $73.97 and its two-hundred day moving average price is $68.93. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $81.19.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The business had revenue of $224.17 million for the quarter, compared to the consensus estimate of $224.38 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. As a group, research analysts anticipate that Ormat Technologies will post 1.98 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.12 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s dividend payout ratio (DPR) is 21.62%.

Insider Buying and Selling

In related news, Director David Granot sold 686 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $73.46, for a total transaction of $50,393.56. Following the completion of the transaction, the director now directly owns 4,832 shares in the company, valued at approximately $354,958.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Raymond James & Associates increased its position in shares of Ormat Technologies by 6.8% during the fourth quarter. Raymond James & Associates now owns 11,666 shares of the energy company’s stock worth $884,000 after buying an additional 743 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Ormat Technologies by 79.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,072 shares of the energy company’s stock valued at $612,000 after purchasing an additional 3,583 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in shares of Ormat Technologies during the 4th quarter valued at about $257,000. DekaBank Deutsche Girozentrale boosted its position in shares of Ormat Technologies by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,977 shares of the energy company’s stock valued at $380,000 after purchasing an additional 370 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Ormat Technologies by 15.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock valued at $199,004,000 after buying an additional 343,650 shares during the period. 95.49% of the stock is owned by 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.