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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $84.50.

ORA has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm restated a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th.

Insider Activity

In other news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated 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 transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 15.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the director now owns 3,561 shares in the company, valued at $266,754.51. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Several institutional investors have recently added to or reduced their stakes in ORA. Blue Trust Inc. increased 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 during the last quarter. UMB Bank n.a. boosted its holdings in shares of Ormat Technologies by 107.7% in the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after buying an additional 320 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Ormat Technologies in the 1st quarter valued at $50,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 391 shares in the last quarter. Finally, DMC Group LLC purchased a new stake in Ormat Technologies in the third quarter valued at $204,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $79.52 on Friday. The firm has a 50 day simple moving average of $77.52 and a 200-day simple moving average of $74.53. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 4.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that Ormat Technologies will post 1.91 EPS for the current year.

Ormat Technologies Dividend Announcement

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

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.