Ormat Technologies, Inc. (NYSE:ORA) Shareholders Set to Receive $0.12 Quarterly Dividend

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Wednesday, November 18th will be given a dividend of $0.12 per share by the energy company on Wednesday, December 2nd. This represents a $0.48 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, November 18th.

Ormat Technologies has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Ormat Technologies to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.5%.

Ormat Technologies Stock Up 0.3%

Shares of NYSE:ORA opened at $94.43 on Thursday. The stock’s 50-day moving average price is $94.17 and its 200-day moving average price is $111.18. Ormat Technologies has a 12-month low of $85.77 and a 12-month high of $146.39. The stock has a market capitalization of $5.81 billion, a P/E ratio of 46.52, a price-to-earnings-growth ratio of 3.50 and a beta of 0.89. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.33 by $0.23. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%. The firm had revenue of $275.12 million for the quarter, compared to the consensus estimate of $248.36 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Ormat Technologies will post 2.69 earnings per share for the current year.

Institutional Trading of Ormat Technologies

Several large investors have recently modified their holdings of ORA. Jupiter Topco LLC bought a new position in Ormat Technologies during the 2nd quarter valued at approximately $2,979,000. Deutsche Bank AG purchased a new stake in Ormat Technologies in the 2nd quarter worth approximately $42,015,000. Trillium Asset Management LLC bought a new stake in shares of Ormat Technologies in the 2nd quarter worth approximately $16,106,000. Readystate Asset Management LP bought a new stake in shares of Ormat Technologies in the 2nd quarter worth approximately $3,165,000. Finally, BlackRock Inc. bought a new stake in shares of Ormat Technologies in the 2nd quarter worth approximately $896,374,000. 95.49% of the stock is owned by institutional investors.

About Ormat Technologies

Ormat Technologies, Inc (NYSE: ORA) develops, owns, and operates renewable and alternative energy projects. The company’s principal activities include geothermal power generation, energy storage, and recovered energy generation, which converts waste heat from industrial processes into electricity.

Ormat provides equipment and services for geothermal projects, including turbines, generators, power plants, and related engineering and development capabilities. Its geothermal technology is designed to generate electricity from naturally occurring underground heat, including resources that may be unsuitable for conventional steam-based systems.

Founded in 1965, Ormat serves customers and operates projects in multiple international markets, including the United States, Latin America, Africa, and Asia.