Jupiter Topco LLC Invests $2.98 Million in Ormat Technologies, Inc. $ORA

Key Points

• Jupiter Topco purchased 27,333 shares of Ormat Technologies valued at approximately $2.98 million during the second quarter. Institutional investors collectively own 95.49% of the company.
• Analysts maintain a generally positive outlook, with eight Buy, five Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $130.83.
• Ormat exceeded quarterly expectations, reporting $0.50 in EPS and $258.76 million in revenue, up 10.6% year over year. The company also paid a quarterly dividend of $0.12 per share, equivalent to a 0.5% annual yield.

Jupiter Topco LLC purchased a new position in Ormat Technologies, Inc. (NYSE:ORA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,333 shares of the energy company's stock, valued at approximately $2,979,000.

Several other institutional investors and hedge funds have also bought and sold shares of ORA. Hsbc Holdings PLC bought a new stake in shares of Ormat Technologies in the second quarter valued at $1,969,000. Canada Pension Plan Investment Board purchased a new position in shares of Ormat Technologies during the 2nd quarter valued at $173,638,000. Nicholas Investment Partners LP bought a new position in shares of Ormat Technologies during the 2nd quarter worth $4,933,000. Legal & General Group Plc bought a new position in shares of Ormat Technologies during the 2nd quarter worth $77,650,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Ormat Technologies in the 2nd quarter worth about $6,427,000. 95.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein restated an "underperform" rating and issued a $112.00 price objective on shares of Ormat Technologies in a research note on Monday, August 10th. UBS Group increased their target price on shares of Ormat Technologies from $143.00 to $152.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Ormat Technologies from $106.00 to $123.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Oppenheimer reduced their target price on shares of Ormat Technologies from $144.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Finally, Barclays lowered their price target on shares of Ormat Technologies from $127.00 to $122.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ormat Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $130.83.

Ormat Technologies Stock Down 2.4%

ORA stock opened at $104.69 on Thursday. The company's 50 day moving average is $107.01 and its 200 day moving average is $115.53. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 4.34 and a beta of 0.90. 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, Inc. has a 1-year low of $89.70 and a 1-year high of $146.39.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. During the same period in the previous year, the business posted $0.48 earnings per share. Ormat Technologies's revenue for the quarter was up 10.6% on a year-over-year basis. Sell-side analysts predict that Ormat Technologies, Inc. will post 2.47 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies's dividend payout ratio (DPR) is 23.65%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company's core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat's offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.

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