Analysts Set Ormat Technologies, Inc. (NYSE:ORA) Target Price at $76.20

Shares of Ormat Technologies, Inc. (NYSE:ORAGet Rating) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.20.

Several brokerages have recently commented on ORA. Bank of America downgraded Ormat Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $94.00 to $75.00 in a research report on Wednesday, January 26th. JPMorgan Chase & Co. lowered their price target on Ormat Technologies from $82.00 to $73.00 in a report on Thursday, January 20th. Oppenheimer reduced their price target on Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. StockNews.com downgraded Ormat Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th.

In related news, Director Stanley Stern sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $80.85, for a total value of $606,375.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV increased its holdings in shares of Ormat Technologies by 25.7% during the 1st quarter. KBC Group NV now owns 35,874 shares of the energy company’s stock worth $2,936,000 after buying an additional 7,338 shares during the last quarter. California Public Employees Retirement System increased its holdings in Ormat Technologies by 6.6% in the 1st quarter. California Public Employees Retirement System now owns 88,845 shares of the energy company’s stock valued at $7,270,000 after purchasing an additional 5,518 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Ormat Technologies by 2.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,824 shares of the energy company’s stock valued at $522,000 after purchasing an additional 147 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Ormat Technologies in the 1st quarter valued at approximately $41,000. Finally, Envestnet Asset Management Inc. increased its holdings in Ormat Technologies by 19.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,687 shares of the energy company’s stock valued at $1,202,000 after purchasing an additional 2,355 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors and hedge funds.

ORA stock traded down $0.68 during trading on Friday, hitting $78.42. 621 shares of the company traded hands, compared to its average volume of 391,425. The firm has a market capitalization of $4.40 billion, a PE ratio of 66.88, a P/E/G ratio of 3.70 and a beta of 0.46. Ormat Technologies has a 1 year low of $60.32 and a 1 year high of $88.52. The company has a 50-day moving average of $79.33 and a 200-day moving average of $76.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.11.

Ormat Technologies (NYSE:ORAGet Rating) last announced its earnings results on Wednesday, February 23rd. The energy company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm had revenue of $191.00 million during the quarter, compared to analyst estimates of $183.08 million. Ormat Technologies had a return on equity of 3.72% and a net margin of 9.59%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Sell-side analysts expect that Ormat Technologies will post 1.28 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Friday, May 13th. Ormat Technologies’s dividend payout ratio is presently 41.38%.

Ormat Technologies Company Profile (Get Rating)

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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.

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