Ormat Technologies, Inc. (NYSE:ORA) Receives $81.67 Consensus Price Target from Analysts

Ormat Technologies, Inc. (NYSE:ORA) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $81.67.

A number of equities analysts have recently weighed in on ORA shares. Roth Mkm reiterated a “buy” rating and issued a $80.00 target price on shares of Ormat Technologies in a report on Monday, August 12th. Oppenheimer upped their target price on Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted 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.

Ormat Technologies Price Performance

NYSE ORA opened at $75.53 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $78.51. The company has a market cap of $4.57 billion, a PE ratio of 34.02, a PEG ratio of 3.68 and a beta of 0.53. The stock’s 50-day moving average price is $74.36 and its two-hundred day moving average price is $70.87.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 EPS for the quarter, beating 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 business had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Ormat Technologies will post 2.04 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. Ormat Technologies’s dividend payout ratio is currently 21.62%.

Insider Activity

In other news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares in the company, valued at approximately $266,754.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Ormat Technologies

A number of institutional investors have recently modified their holdings of ORA. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Ormat Technologies by 23.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 178,217 shares of the energy company’s stock worth $12,778,000 after acquiring an additional 33,439 shares during the last quarter. Creative Planning raised its holdings in Ormat Technologies by 8.9% during the 2nd quarter. Creative Planning now owns 12,168 shares of the energy company’s stock worth $872,000 after purchasing an additional 996 shares during the last quarter. Algert Global LLC acquired a new position in Ormat Technologies during the 2nd quarter valued at about $392,000. Susquehanna International Group Ltd. bought a new position in shares of Ormat Technologies in the 2nd quarter valued at about $1,006,000. Finally, AQR Capital Management LLC grew its position in shares of Ormat Technologies by 45.3% during the 2nd quarter. AQR Capital Management LLC now owns 5,809 shares of the energy company’s stock worth $417,000 after buying an additional 1,811 shares during the period. 95.49% of the stock is owned by institutional investors.

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.