Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) Target Price at $81.67

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $84.50.

Several analysts recently commented on ORA shares. Roth Mkm restated a “buy” rating and set a $92.00 price target (up previously from $87.00) on shares of Ormat Technologies in a research report on Friday, November 8th. Oppenheimer raised 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, November 8th.

Ormat Technologies Stock Up 0.4 %

Shares of ORA opened at $79.52 on Friday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 40.57, a PEG ratio of 4.16 and a beta of 0.53. Ormat Technologies has a 52 week low of $59.41 and a 52 week high of $84.30. The stock’s 50-day moving average price is $77.52 and its 200-day moving average price is $74.53. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 6th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The business had revenue of $211.80 million for the quarter, compared to analyst estimates of $215.53 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, sell-side analysts predict that Ormat Technologies will post 1.91 EPS for the current year.

Ormat Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. Ormat Technologies’s dividend payout ratio is currently 24.49%.

Insider Buying and Selling

In related news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the sale, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on 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 $266,754.51. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Ormat Technologies

Several large investors have recently bought and sold shares of ORA. Blue Trust Inc. lifted its stake in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock worth $26,000 after purchasing an additional 229 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Ormat Technologies by 107.7% in the third quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock valued at $47,000 after purchasing an additional 320 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Ormat Technologies during the first quarter worth approximately $50,000. GAMMA Investing LLC boosted its stake in Ormat Technologies by 115.3% during the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock worth $52,000 after buying an additional 391 shares during the last quarter. Finally, DMC Group LLC acquired a new position in Ormat Technologies during the third quarter worth $204,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Ormat Technologies Company Profile

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.