Ormat Technologies, Inc. (NYSE:ORA) Receives $84.14 Consensus PT from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORAGet Free Report) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $84.14.

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their price target on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Baird R W raised Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird started coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th.

Check Out Our Latest Report on ORA

Ormat Technologies Price Performance

Shares of ORA stock opened at $86.58 on Friday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 4.03 and a beta of 0.61. Ormat Technologies has a 12 month low of $61.58 and a 12 month high of $86.72. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $74.87 and a 200 day moving average price of $70.76.

Ormat Technologies (NYSE:ORAGet Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. The company had revenue of $229.76 million for the quarter, compared to analyst estimates of $228.33 million. Ormat Technologies had a net margin of 14.18% and a return on equity of 5.35%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Research analysts expect that Ormat Technologies will post 1.94 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, May 21st. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Insider Buying and Selling

In other Ormat Technologies news, Director David Granot sold 950 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total transaction of $69,445.00. Following the sale, the director now directly owns 2,713 shares in the company, valued at approximately $198,320.30. This trade represents a 25.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dafna Sharir sold 876 shares of Ormat Technologies stock in a transaction that occurred 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 directly owns 4,438 shares in the company, valued at approximately $332,850. The trade was a 16.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,721 shares of company stock valued at $200,901. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ormat Technologies

Large investors have recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. acquired a new position in shares of Ormat Technologies during the fourth quarter worth about $34,000. AlphaQuest LLC raised its position in Ormat Technologies by 4,691.7% in the 4th quarter. AlphaQuest LLC now owns 575 shares of the energy company’s stock valued at $39,000 after buying an additional 563 shares during the last quarter. UMB Bank n.a. lifted its stake in Ormat Technologies by 42.6% in the 1st quarter. UMB Bank n.a. now owns 880 shares of the energy company’s stock valued at $62,000 after acquiring an additional 263 shares in the last quarter. CWM LLC boosted its position in Ormat Technologies by 294.2% during the 1st quarter. CWM LLC now owns 887 shares of the energy company’s stock worth $63,000 after acquiring an additional 662 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Ormat Technologies by 60.6% during the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company’s stock worth $63,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

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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.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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