Mission Wealth Management LP Buys 616 Shares of Ormat Technologies, Inc. (NYSE:ORA)

Mission Wealth Management LP grew its holdings in Ormat Technologies, Inc. (NYSE:ORAFree Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,995 shares of the energy company’s stock after acquiring an additional 616 shares during the quarter. Mission Wealth Management LP’s holdings in Ormat Technologies were worth $794,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TFO Wealth Partners LLC boosted its holdings in Ormat Technologies by 9,066.7% in the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Ormat Technologies in the fourth quarter worth about $32,000. Manchester Capital Management LLC boosted its holdings in Ormat Technologies by 593.0% in the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock worth $60,000 after acquiring an additional 682 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock worth $117,000 after acquiring an additional 514 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in Ormat Technologies in the first quarter worth about $202,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ORA. UBS Group raised their price target on Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Oppenheimer lifted their target price on Ormat Technologies from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Barclays decreased their target price on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 13th. Finally, TD Cowen lifted their target price on Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $84.17.

Get Our Latest Stock Report on Ormat Technologies

Insider Activity

In other news, Director David Granot sold 686 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $73.46, for a total value of $50,393.56. Following the completion of the sale, the director now directly owns 4,832 shares in the company, valued at $354,958.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Ormat Technologies Stock Up 0.6 %

Shares of ORA stock opened at $70.83 on Friday. The stock has a 50 day moving average of $71.87 and a 200 day moving average of $68.74. 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 stock has a market cap of $4.28 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.41 and a beta of 0.51. Ormat Technologies, Inc. has a twelve month low of $58.73 and a twelve month high of $85.82.

Ormat Technologies (NYSE:ORAGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.03). The company had revenue of $224.17 million for the quarter, compared to analysts’ expectations of $224.38 million. Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. As a group, sell-side analysts expect that Ormat Technologies, Inc. will post 2.08 EPS for the current year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 21st. Ormat Technologies’s dividend payout ratio is currently 21.62%.

About Ormat Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Ormat Technologies (NYSE:ORA)

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