Ormat Technologies, Inc. (NYSE:ORA) Receives Average Recommendation of "Hold" from Brokerages – MarketBeat

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Shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $77.25.
Several brokerages have recently weighed in on ORA. TheStreet raised Ormat Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, April 7th. StockNews.com raised Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Oppenheimer cut their target price on Ormat Technologies from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th.
In related news, Director Dan Falk sold 1,667 shares of Ormat Technologies stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $83.96, for a total value of $139,961.32. Following the sale, the director now directly owns 2,014 shares in the company, valued at $169,095.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stanley Stern sold 7,500 shares of Ormat Technologies stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $80.85, for a total value of $606,375.00. The disclosure for this sale can be found here. Insiders sold a total of 47,661 shares of company stock worth $3,945,340 over the last quarter. Company insiders own 1.30% of the company’s stock.
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Hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in Ormat Technologies by 77.6% during the first quarter. Signaturefd LLC now owns 451 shares of the energy company’s stock worth $37,000 after purchasing an additional 197 shares during the last quarter. Prospera Financial Services Inc acquired a new position in Ormat Technologies during the first quarter worth $41,000. Concord Wealth Partners raised its holdings in Ormat Technologies by 286.0% during the fourth quarter. Concord Wealth Partners now owns 660 shares of the energy company’s stock worth $52,000 after purchasing an additional 489 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in Ormat Technologies during the first quarter worth $56,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in Ormat Technologies during the fourth quarter worth $111,000. 96.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Ormat Technologies stock opened at $71.90 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 61.98, a price-to-earnings-growth ratio of 5.10 and a beta of 0.45. The business has a 50-day moving average of $78.43 and a 200 day moving average of $76.19. Ormat Technologies has a 12 month low of $60.32 and a 12 month high of $88.52.
Ormat Technologies (NYSE:ORA – Get Rating) last posted its quarterly earnings results on Monday, May 2nd. The energy company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $183.71 million for the quarter, compared to analyst estimates of $174.20 million. Ormat Technologies had a return on equity of 3.70% and a net margin of 9.59%. Equities research analysts anticipate that Ormat Technologies will post 1.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were paid a $0.12 dividend. The ex-dividend date was Friday, May 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is currently 41.38%.
About Ormat Technologies (Get Rating)
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guadeloupe, Guatemala, Ethiopia, New Zealand, Honduras, and internationally. It operates through 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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