Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Rating of “Hold” by Brokerages

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

ORA has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 7th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Barclays increased their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Robert W. Baird initiated coverage on shares of Ormat Technologies in a research report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Finally, Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $71.57 on Tuesday. The stock has a market cap of $4.34 billion, a P/E ratio of 36.51, a P/E/G ratio of 3.18 and a beta of 0.65. 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 fifty day moving average price of $71.53 and a two-hundred day moving average price of $71.05. Ormat Technologies has a one year low of $61.58 and a one year high of $84.30.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million during the quarter, compared to analysts’ expectations of $228.33 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. As a group, equities analysts predict that Ormat Technologies will post 1.94 EPS for the current year.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, May 21st. Ormat Technologies’s dividend payout ratio is 23.30%.

Insider Buying and Selling

In related news, Director David Granot sold 950 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total transaction of $69,445.00. Following the transaction, the director now directly owns 2,713 shares of the company’s stock, valued at approximately $198,320.30. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dafna Sharir sold 876 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $75.00, for a total transaction of $65,700.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 4,068 shares of company stock valued at $291,572. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ormat Technologies

A number of hedge funds have recently bought and sold shares of ORA. Inspire Investing LLC increased its position in Ormat Technologies by 11.0% during the fourth quarter. Inspire Investing LLC now owns 5,914 shares of the energy company’s stock worth $400,000 after acquiring an additional 586 shares during the period. Pacer Advisors Inc. grew its stake in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after buying an additional 160 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Ormat Technologies by 16.4% during the fourth quarter. Perigon Wealth Management LLC now owns 3,162 shares of the energy company’s stock worth $214,000 after buying an additional 446 shares in the last quarter. Caprock Group LLC grew its stake in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock worth $412,000 after buying an additional 235 shares in the last quarter. Finally, Everett Harris & Co. CA grew its stake in Ormat Technologies by 40.0% during the fourth quarter. Everett Harris & Co. CA now owns 7,000 shares of the energy company’s stock worth $474,000 after buying an additional 2,000 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Company 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.