Ormat Technologies, Inc. (NYSE:ORA) Receives $81.00 Consensus Target Price from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $81.00.

ORA has been the subject of several analyst reports. Barclays decreased their price objective on Ormat Technologies from $82.00 to $75.00 and set an “equal weight” rating for the company in a report on Monday, February 5th. Oppenheimer decreased their price objective on Ormat Technologies from $84.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Finally, TD Cowen decreased their price objective on Ormat Technologies from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Friday, February 23rd.

Insiders Place Their Bets

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total transaction of $122,183.75. Following the completion of the sale, the director now directly owns 4,835 shares in the company, valued at $323,703.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ormat Technologies

Hedge funds have recently bought and sold shares of the stock. TFO Wealth Partners LLC lifted its position in Ormat Technologies by 9,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 275 shares of the energy company’s stock worth $227,000 after acquiring an additional 272 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Ormat Technologies in the fourth quarter valued at approximately $32,000. Manchester Capital Management LLC raised its position in shares of Ormat Technologies by 593.0% in the fourth quarter. Manchester Capital Management LLC now owns 797 shares of the energy company’s stock valued at $60,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ormat Technologies by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company’s stock valued at $117,000 after buying an additional 514 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Ormat Technologies in the third quarter valued at approximately $204,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Price Performance

ORA stock opened at $64.96 on Monday. The stock has a 50-day moving average price of $65.04 and a two-hundred day moving average price of $67.03. The stock has a market cap of $3.92 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $88.64.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Equities analysts forecast that Ormat Technologies will post 2.14 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.74%. Ormat Technologies’s dividend payout ratio (DPR) is presently 22.97%.

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.