Ormat Technologies (NYSE:ORA) Insider Jessica Woelfel Sells 692 Shares

Key Points

• Insider Jessica Woelfel sold 692 shares of Ormat Technologies stock at an average price of $94.57, a transaction that decreased her ownership by 11.68%.
• Ormat Technologies reported earnings of $0.48 EPS for the last quarter, surpassing analysts' expectations and showing a 9.9% revenue increase year-over-year.
• The company recently announced a quarterly dividend of $0.12 per share, yielding 0.5%, with the dividend to be paid on September 3rd.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) insider Jessica Woelfel sold 692 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.57, for a total value of $65,442.44. Following the sale, the insider owned 5,234 shares of the company's stock, valued at $494,979.38. The trade was a 11.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Ormat Technologies Trading Down 1.2%

Shares of NYSE:ORA traded down $1.11 during trading on Friday, reaching $91.86. 737,659 shares of the stock were exchanged, compared to its average volume of 587,154. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies, Inc. has a 12-month low of $61.58 and a 12-month high of $95.36. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 42.73, a price-to-earnings-growth ratio of 4.27 and a beta of 0.68. The firm's 50-day moving average price is $88.60 and its 200 day moving average price is $77.85.

Ormat Technologies (NYSE:ORA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.11. Ormat Technologies had a return on equity of 5.47% and a net margin of 14.49%.The business had revenue of $234.02 million during the quarter, compared to analysts' expectations of $225.26 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company's revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Ormat Technologies, Inc. will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies's payout ratio is presently 22.33%.

Wall Street Analyst Weigh In

ORA has been the subject of a number of research reports. Roth Capital reiterated a "buy" rating and set a $98.00 target price (up previously from $88.00) on shares of Ormat Technologies in a report on Tuesday, August 5th. Barclays decreased their price target on Ormat Technologies from $90.00 to $89.00 and set an "overweight" rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. upped their price target on Ormat Technologies from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Robert W. Baird upgraded Ormat Technologies from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $87.00 to $103.00 in a report on Wednesday, July 30th. Finally, Oppenheimer restated an "outperform" rating and issued a $100.00 price target on shares of Ormat Technologies in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Ormat Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $93.30.

Hedge Funds Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently made changes to their positions in ORA. Raymond James Financial Inc. purchased a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $204,000. Guggenheim Capital LLC boosted its stake in shares of Ormat Technologies by 18.0% during the 4th quarter. Guggenheim Capital LLC now owns 7,087 shares of the energy company's stock valued at $480,000 after buying an additional 1,080 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ormat Technologies by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock valued at $107,440,000 after buying an additional 93,418 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Ormat Technologies by 189.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,120 shares of the energy company's stock valued at $482,000 after buying an additional 4,660 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Ormat Technologies during the 4th quarter valued at approximately $389,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.