Bridge Creek Capital Management LLC Has $2.82 Million Stock Holdings in Ormat Technologies, Inc. (NYSE:ORA)

Bridge Creek Capital Management LLC reduced its stake in shares of Ormat Technologies, Inc. (NYSE:ORA) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,616 shares of the energy company’s stock after selling 190 shares during the quarter. Bridge Creek Capital Management LLC owned 0.06% of Ormat Technologies worth $2,817,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its holdings in shares of Ormat Technologies by 0.3% during the first quarter. Retirement Systems of Alabama now owns 67,453 shares of the energy company’s stock worth $4,465,000 after buying an additional 177 shares in the last quarter. Harrington Investments INC increased its holdings in Ormat Technologies by 3.0% during the 2nd quarter. Harrington Investments INC now owns 7,950 shares of the energy company’s stock valued at $570,000 after purchasing an additional 230 shares in the last quarter. Arizona State Retirement System raised its position in Ormat Technologies by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 15,214 shares of the energy company’s stock valued at $1,091,000 after purchasing an additional 286 shares during the last quarter. State of Michigan Retirement System raised its position in Ormat Technologies by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 13,200 shares of the energy company’s stock valued at $874,000 after purchasing an additional 300 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Ormat Technologies by 44.0% in the third quarter. GAMMA Investing LLC now owns 1,051 shares of the energy company’s stock worth $81,000 after purchasing an additional 321 shares in the last quarter. 95.49% of the stock is owned by institutional investors.

Ormat Technologies Trading Down 0.4 %

NYSE:ORA traded down $0.28 on Tuesday, hitting $75.62. 4,312 shares of the stock were exchanged, compared to its average volume of 437,401. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. Ormat Technologies, Inc. has a 52 week low of $58.73 and a 52 week high of $78.51. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 3.94 and a beta of 0.53. The company’s 50-day moving average price is $74.51 and its 200 day moving average price is $71.75.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. Ormat Technologies had a net margin of 14.89% and a return on equity of 5.40%. The company had revenue of $212.96 million during the quarter, compared to analysts’ expectations of $214.07 million. During the same quarter in the previous year, the company earned $0.40 EPS. Ormat Technologies’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, August 20th. Ormat Technologies’s dividend payout ratio (DPR) is currently 21.62%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ORA shares. Oppenheimer lifted their price target on Ormat Technologies from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 price target on shares of Ormat Technologies in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.67.

Insider Activity

In related news, Director Byron G. Wong sold 1,266 shares of Ormat Technologies stock in a transaction 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 of the company’s stock, valued at $517,811.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the transaction, the director now owns 6,906 shares in the company, valued at approximately $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 3,561 shares of the company’s stock, valued at approximately $266,754.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.