Ormat Technologies, Inc. (NYSE:ORA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Ormat Technologies, Inc. (NYSE:ORA) has received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $128.00.

ORA has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $125.00 target price on shares of Ormat Technologies in a research note on Monday, November 24th. Roth Mkm set a $139.00 price target on Ormat Technologies in a report on Wednesday. Barclays cut their price objective on Ormat Technologies from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Oppenheimer lifted their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Cowen raised Ormat Technologies from a “hold” rating to a “buy” rating in a research report on Friday, January 9th.

Ormat Technologies Price Performance

NYSE:ORA opened at $124.91 on Friday. The business’s 50-day moving average price is $115.40 and its 200 day moving average price is $103.86. The firm has a market cap of $7.59 billion, a P/E ratio of 57.30, a PEG ratio of 5.07 and a beta of 0.71. Ormat Technologies has a 52-week low of $61.93 and a 52-week high of $128.97. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 0.79.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The company had revenue of $249.73 million during the quarter, compared to the consensus estimate of $235.03 million. During the same period in the prior year, the company earned $0.36 EPS. Ormat Technologies’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, November 17th. Ormat Technologies’s payout ratio is presently 22.02%.

Insider Activity

In other Ormat Technologies news, Director Isaac Angel sold 18,018 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $112.42, for a total value of $2,025,583.56. Following the completion of the transaction, the director directly owned 29,650 shares in the company, valued at $3,333,253. This trade represents a 37.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica Woelfel sold 721 shares of Ormat Technologies stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $115.00, for a total transaction of $82,915.00. Following the completion of the transaction, the insider directly owned 3,433 shares in the company, valued at approximately $394,795. This trade represents a 17.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,860 shares of company stock valued at $4,601,530 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Ormat Technologies

Large investors have recently added to or reduced their stakes in the company. Curio Wealth LLC boosted its position in shares of Ormat Technologies by 29,200.0% in the second quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock worth $25,000 after buying an additional 292 shares during the period. Wolff Wiese Magana LLC acquired a new position in Ormat Technologies during the fourth quarter valued at $33,000. Jones Financial Companies Lllp raised its position in Ormat Technologies by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock valued at $35,000 after buying an additional 113 shares during the period. Ameriflex Group Inc. lifted its stake in Ormat Technologies by 1,100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after acquiring an additional 330 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after acquiring an additional 374 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.