Prime Capital Investment Advisors LLC Acquires Shares of 3,392 Ormat Technologies, Inc. (NYSE:ORA)

Prime Capital Investment Advisors LLC acquired a new stake in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,392 shares of the energy company’s stock, valued at approximately $257,000.

Other institutional investors have also recently made changes to their positions in the company. Guinness Asset Management LTD lifted its holdings in shares of Ormat Technologies by 5.7% in the 3rd quarter. Guinness Asset Management LTD now owns 518,360 shares of the energy company’s stock worth $36,234,000 after acquiring an additional 28,058 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in shares of Ormat Technologies by 1.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 15,944 shares of the energy company’s stock worth $1,115,000 after acquiring an additional 194 shares during the last quarter. LGT Capital Partners LTD. lifted its holdings in shares of Ormat Technologies by 26.6% in the 4th quarter. LGT Capital Partners LTD. now owns 524,710 shares of the energy company’s stock worth $39,768,000 after acquiring an additional 110,330 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Ormat Technologies in the 4th quarter worth about $1,516,000. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Ormat Technologies by 32.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 185,147 shares of the energy company’s stock worth $12,945,000 after acquiring an additional 44,979 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Trading Down 2.7 %

Shares of ORA opened at $64.30 on Friday. Ormat Technologies, Inc. has a 1-year low of $58.73 and a 1-year high of $88.64. The company has a 50-day moving average of $65.37 and a 200 day moving average of $67.33. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.00 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.20 and a quick ratio of 1.12.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to the consensus estimate of $239.71 million. Ormat Technologies had a net margin of 15.00% and a return on equity of 5.09%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. On average, research analysts expect that Ormat Technologies, Inc. will post 2.2 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, March 5th. Ormat Technologies’s dividend payout ratio (DPR) is 22.97%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the transaction, the director now owns 4,835 shares of the company’s stock, valued at approximately $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ORA. Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. TD Cowen lowered their target price on shares of Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd. Finally, Barclays decreased their price objective on shares of Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.00.

Ormat Technologies 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.