Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.12 per share by the energy company on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 19th.
Ormat Technologies has raised its dividend by an average of 0.0%per year over the last three years. Ormat Technologies has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ormat Technologies to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.1%.
Ormat Technologies Stock Performance
ORA opened at $98.06 on Thursday. Ormat Technologies has a 12-month low of $84.13 and a 12-month high of $146.39. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.03 billion, a PE ratio of 47.60, a P/E/G ratio of 4.27 and a beta of 0.90. The firm has a 50 day moving average of $117.64 and a two-hundred day moving average of $117.64.
Wall Street Analyst Weigh In
ORA has been the subject of a number of research reports. Sanford C. Bernstein began coverage on shares of Ormat Technologies in a research report on Tuesday, June 16th. They set an “underperform” rating and a $115.00 target price for the company. Barclays increased their price target on Ormat Technologies from $126.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price objective on shares of Ormat Technologies in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Finally, UBS Group upped their target price on Ormat Technologies from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.75.
Check Out Our Latest Stock Report on ORA
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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