Roth Mkm Reaffirms “Buy” Rating for Ormat Technologies (NYSE:ORA)

Roth Mkm reissued their buy rating on shares of Ormat Technologies (NYSE:ORA) in a report issued on Friday morning,Benzinga reports. Roth Mkm currently has a $92.00 price objective on the energy company’s stock, up from their prior price objective of $87.00.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer upped their target price on Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Ormat Technologies Trading Up 0.9 %

NYSE ORA opened at $83.84 on Friday. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $84.30. The company has a 50 day moving average price of $77.14 and a 200 day moving average price of $74.35. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm has a market cap of $5.07 billion, a PE ratio of 42.78, a price-to-earnings-growth ratio of 4.34 and a beta of 0.53.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The firm had revenue of $211.80 million during the quarter, compared to analyst estimates of $215.53 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ormat Technologies will post 1.9 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Ormat Technologies’s payout ratio is currently 24.49%.

Insider Buying and Selling

In other news, Director Dafna Sharir sold 433 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares of the company’s stock, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.91, for a total value of $32,436.03. Following the completion of the transaction, the director now owns 3,561 shares in the company, valued at approximately $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at approximately $517,811.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Ormat Technologies by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,388,571 shares of the energy company’s stock worth $356,670,000 after acquiring an additional 63,943 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock worth $188,125,000 after buying an additional 140,882 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ormat Technologies by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,450,797 shares of the energy company’s stock worth $104,030,000 after acquiring an additional 86,291 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in Ormat Technologies by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,322,936 shares of the energy company’s stock valued at $94,855,000 after acquiring an additional 25,799 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Ormat Technologies by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 560,029 shares of the energy company’s stock worth $40,154,000 after purchasing an additional 15,004 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

About Ormat Technologies

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.