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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have received an average recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $83.29.

Several equities research analysts have commented on ORA shares. Jefferies Financial Group upped their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Robert W. Baird started coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price for the company. Barclays upped their target price on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Wall Street Zen raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 7th.

Ormat Technologies Trading Up 0.9%

ORA opened at $71.57 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. The firm has a 50 day simple moving average of $71.53 and a 200 day simple moving average of $71.05. Ormat Technologies has a fifty-two week low of $61.58 and a fifty-two week high of $84.30.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. During the same period in the previous year, the firm posted $0.64 earnings per share. Ormat Technologies’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.

Insider Activity

In related news, Director Dafna Sharir sold 876 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $75.00, for a total transaction of $65,700.00. Following the completion of the transaction, the director now owns 4,438 shares in the company, valued at approximately $332,850. This represents a 16.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica Woelfel sold 409 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total transaction of $29,509.35. Following the transaction, the insider now owns 6,094 shares of the company’s stock, valued at $439,682.10. The trade was a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,068 shares of company stock worth $291,572 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORA. Stuart Chaussee & Associates Inc. acquired a new position in Ormat Technologies during the fourth quarter worth $34,000. AlphaQuest LLC boosted its holdings in Ormat Technologies by 4,691.7% during the fourth quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock worth $39,000 after purchasing an additional 563 shares during the last quarter. UMB Bank n.a. boosted its holdings in Ormat Technologies by 42.6% during the first quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock worth $62,000 after purchasing an additional 263 shares during the last quarter. Signaturefd LLC boosted its holdings in Ormat Technologies by 60.6% during the first quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after purchasing an additional 336 shares during the last quarter. Finally, CWM LLC lifted its stake in Ormat Technologies by 294.2% in the first quarter. CWM LLC now owns 887 shares of the energy company’s stock valued at $63,000 after acquiring an additional 662 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.