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

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $129.0909.

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a report on Thursday, January 22nd. Piper Sandler upped their price objective on shares of Ormat Technologies from $102.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays raised their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Oppenheimer lifted their target price on shares of Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group downgraded Ormat Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $125.00 to $130.00 in a report on Friday, February 13th.

Insider Buying and Selling

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider owned 3,433 shares of the company’s stock, valued at approximately $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in Ormat Technologies by 324.1% during the 1st quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after acquiring an additional 19,043 shares during the last quarter. United Services Automobile Association bought a new position in shares of Ormat Technologies in the first quarter worth about $243,000. Empowered Funds LLC raised its stake in shares of Ormat Technologies by 7.3% in the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock worth $297,000 after acquiring an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ormat Technologies by 22.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock worth $16,593,000 after purchasing an additional 43,483 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Ormat Technologies by 10.5% during the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 2,329 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Stock Performance

Ormat Technologies stock opened at $106.47 on Monday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 52.97, a P/E/G ratio of 4.50 and a beta of 0.84. The stock has a fifty day moving average price of $117.00 and a two-hundred day moving average price of $110.13. Ormat Technologies has a 52-week low of $64.39 and a 52-week high of $132.58. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.75.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 25th. The energy company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same quarter in the previous year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, analysts anticipate that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.12 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies’s payout ratio is presently 23.88%.

About Ormat Technologies

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.