Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus … – MarketBeat

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Shares of Ormat Technologies, Inc. (NYSE:ORA – Get Rating) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $90.00.
A number of equities analysts recently commented on ORA shares. StockNews.com raised shares of Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 16th. Bank of America started coverage on shares of Ormat Technologies in a research note on Tuesday, November 22nd. They issued a “neutral” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of Ormat Technologies from $97.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, October 20th. Roth Capital reaffirmed a “neutral” rating on shares of Ormat Technologies in a research note on Sunday, November 6th. Finally, Citigroup began coverage on shares of Ormat Technologies in a research note on Thursday, October 20th. They issued a “neutral” rating and a $91.00 price objective for the company.

Ormat Technologies Price Performance

Shares of NYSE:ORA opened at $86.48 on Tuesday. The firm’s 50 day moving average is $91.00 and its two-hundred day moving average is $88.20. Ormat Technologies has a 52 week low of $60.32 and a 52 week high of $101.81. The firm has a market capitalization of $4.85 billion, a P/E ratio of 72.67, a PEG ratio of 6.40 and a beta of 0.49. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.
Ormat Technologies (NYSE:ORA – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The energy company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Ormat Technologies had a net margin of 9.27% and a return on equity of 3.69%. The business had revenue of $175.89 million for the quarter, compared to analyst estimates of $173.11 million. Analysts anticipate that Ormat Technologies will post 1.35 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. Ormat Technologies’s dividend payout ratio (DPR) is presently 40.34%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, major shareholder Corp Orix sold 562,500 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $87.75, for a total value of $49,359,375.00. Following the completion of the transaction, the insider now directly owns 6,676,077 shares of the company’s stock, valued at $585,825,756.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ormat Technologies news, Director David Granot sold 743 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $101.00, for a total value of $75,043.00. Following the completion of the transaction, the director now directly owns 3,760 shares of the company’s stock, valued at $379,760. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Corp Orix sold 562,500 shares of the business’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $87.75, for a total transaction of $49,359,375.00. Following the completion of the transaction, the insider now directly owns 6,676,077 shares of the company’s stock, valued at $585,825,756.75. The disclosure for this sale can be found here. Insiders have sold a total of 4,331,557 shares of company stock worth $380,304,372 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Ormat Technologies by 35.9% in the third quarter. BlackRock Inc. now owns 6,986,730 shares of the energy company’s stock valued at $602,257,000 after purchasing an additional 1,844,839 shares in the last quarter. Millennium Management LLC boosted its holdings in Ormat Technologies by 2,082.9% during the second quarter. Millennium Management LLC now owns 779,242 shares of the energy company’s stock worth $61,054,000 after purchasing an additional 743,545 shares during the last quarter. State Street Corp boosted its holdings in Ormat Technologies by 44.7% during the third quarter. State Street Corp now owns 1,697,465 shares of the energy company’s stock worth $146,321,000 after purchasing an additional 524,366 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Ormat Technologies by 123.7% in the third quarter. Bank of New York Mellon Corp now owns 485,123 shares of the energy company’s stock valued at $41,818,000 after acquiring an additional 268,214 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in Ormat Technologies by 421.5% in the third quarter. Credit Suisse AG now owns 329,560 shares of the energy company’s stock valued at $28,407,000 after acquiring an additional 266,367 shares during the last quarter. 81.74% of the stock is owned by institutional investors.

About Ormat Technologies

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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.

Featured Stories

Analyst Recommendations for Ormat Technologies (NYSE:ORA)
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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