Ormat Technologies (NYSE:ORA) Given Buy Rating at Roth Mkm

Roth Mkm restated their buy rating on shares of Ormat Technologies (NYSE:ORA) in a research note published on Friday,Benzinga reports. They currently have a $92.00 price objective on the energy company’s stock, up from their previous price objective of $87.00.

A number of other analysts have also commented on ORA. JPMorgan Chase & Co. lifted their target price on Ormat Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer raised their price target on shares of Ormat Technologies from $86.00 to $91.00 and gave the company an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.50.

Ormat Technologies Stock Up 0.1 %

Shares of ORA traded up $0.08 during mid-day trading on Friday, reaching $83.13. The company had a trading volume of 543,545 shares, compared to its average volume of 404,361. Ormat Technologies has a 52 week low of $58.73 and a 52 week high of $83.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 42.39, a price-to-earnings-growth ratio of 4.28 and a beta of 0.53. The firm has a 50-day moving average price of $76.96 and a 200 day moving average price of $74.08.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Ormat Technologies had a return on equity of 5.29% and a net margin of 13.33%. The firm had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Ormat Technologies will post 1.92 EPS for the current year.

Ormat Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, November 20th. Ormat Technologies’s payout ratio is 24.49%.

Insiders Place Their Bets

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 owns 6,906 shares of the company’s stock, valued at $517,811.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Ormat Technologies news, Director Dafna Sharir sold 433 shares of the company’s stock in a transaction that occurred 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 directly owns 3,561 shares in the company, valued at $266,754.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Byron G. Wong sold 1,266 shares of the 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 approximately $517,811.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp grew its position in shares of Ormat Technologies by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 46,945 shares of the energy company’s stock worth $3,107,000 after purchasing an additional 601 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Ormat Technologies by 23.2% in the first quarter. Quantbot Technologies LP now owns 31,538 shares of the energy company’s stock worth $2,088,000 after buying an additional 5,933 shares in the last quarter. Swiss National Bank boosted its position in shares of Ormat Technologies by 0.4% during the first quarter. Swiss National Bank now owns 107,234 shares of the energy company’s stock worth $7,098,000 after acquiring an additional 400 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Ormat Technologies during the first quarter valued at $2,075,000. Finally, Sei Investments Co. increased its holdings in Ormat Technologies by 10.4% in the 1st quarter. Sei Investments Co. now owns 17,197 shares of the energy company’s stock valued at $1,138,000 after acquiring an additional 1,615 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

About Ormat Technologies

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.