Shares of Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) have received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $131.75.
A number of brokerages have recently weighed in on ORA. Piper Sandler lifted their target price on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ormat Technologies in a research report on Friday, July 17th. Barclays increased their price target on shares of Ormat Technologies from $126.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Roth Capital restated a “buy” rating and issued a $135.00 price objective on shares of Ormat Technologies in a report on Monday, May 11th. Finally, UBS Group lifted their price objective on Ormat Technologies from $143.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, May 8th.
Get Our Latest Research Report on ORA
Insider Activity at Ormat Technologies
Institutional Trading of Ormat Technologies
Hedge funds and other institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Ormat Technologies by 155.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock valued at $97,935,000 after purchasing an additional 540,000 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Ormat Technologies in the 4th quarter worth $1,319,000. Jennison Associates LLC raised its stake in shares of Ormat Technologies by 51.7% in the fourth quarter. Jennison Associates LLC now owns 90,753 shares of the energy company’s stock worth $10,025,000 after purchasing an additional 30,910 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ormat Technologies by 259.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,830 shares of the energy company’s stock worth $7,935,000 after purchasing an additional 51,830 shares during the last quarter. Finally, Nicholas Investment Partners LP bought a new position in shares of Ormat Technologies during the fourth quarter valued at $4,835,000. 95.49% of the stock is owned by hedge funds and other institutional investors.
Ormat Technologies Stock Performance
Shares of ORA stock opened at $98.48 on Friday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 4.35 and a beta of 0.88. The stock has a fifty day moving average of $122.16 and a 200 day moving average of $118.48. Ormat Technologies has a 52 week low of $84.13 and a 52 week high of $146.39. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.87.
Ormat Technologies (NYSE:ORA – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The business had revenue of $403.91 million for the quarter, compared to the consensus estimate of $349.17 million. During the same period in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 75.8% compared to the same quarter last year. As a group, research analysts expect that Ormat Technologies will post 2.35 earnings per share for the current year.
Ormat Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, May 20th. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.30%.
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.
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