Northwest & Ethical Investments L.P. Takes $2.65 Million Position in Ormat Technologies, Inc. (NYSE:ORA)

Northwest & Ethical Investments L.P. bought a new stake in Ormat Technologies, Inc. (NYSE:ORA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,447 shares of the energy company’s stock, valued at approximately $2,650,000. Northwest & Ethical Investments L.P. owned 0.06% of Ormat Technologies at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its position in Ormat Technologies by 180.3% in the 3rd quarter. Blue Trust Inc. now owns 356 shares of the energy company’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Ormat Technologies by 107.7% during the 3rd quarter. UMB Bank n.a. now owns 617 shares of the energy company’s stock worth $47,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC grew its position in Ormat Technologies by 115.3% in the second quarter. GAMMA Investing LLC now owns 730 shares of the energy company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. DMC Group LLC acquired a new position in shares of Ormat Technologies during the 3rd quarter worth about $204,000. Finally, nVerses Capital LLC raised its stake in shares of Ormat Technologies by 311.1% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the energy company’s stock worth $265,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Trading Up 0.0 %

NYSE ORA opened at $81.62 on Friday. Ormat Technologies, Inc. has a 12 month low of $59.41 and a 12 month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $4.94 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 4.22 and a beta of 0.53. The business’s 50-day moving average price is $78.77 and its two-hundred day moving average price is $75.46.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, November 6th. The energy company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $211.80 million during the quarter, compared to the consensus estimate of $215.53 million. Ormat Technologies had a net margin of 13.33% and a return on equity of 5.27%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, analysts expect that Ormat Technologies, Inc. will post 1.93 EPS for the current year.

Ormat Technologies Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.48 annualized dividend and a yield of 0.59%. Ormat Technologies’s payout ratio is 24.49%.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Byron G. Wong sold 1,266 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. This represents a 15.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Oppenheimer boosted their price target on Ormat Technologies from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and issued a $92.00 price objective (up from $87.00) on shares of Ormat Technologies in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ormat Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

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.