Ormat Technologies, Inc. (NYSE:ORA) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $84.71.

Several equities research analysts recently weighed in on ORA shares. Jefferies Financial Group boosted their target price on Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Barclays boosted their price objective on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th.

Ormat Technologies Stock Up 1.6%

Shares of Ormat Technologies stock traded up $1.40 during trading on Wednesday, hitting $89.72. 560,718 shares of the stock traded hands, compared to its average volume of 489,673. The stock has a market cap of $5.44 billion, a P/E ratio of 43.55, a PEG ratio of 4.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. Ormat Technologies has a twelve month low of $61.58 and a twelve month high of $90.00. The company has a fifty day moving average price of $80.36 and a two-hundred day moving average price of $72.78.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.10. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. The business had revenue of $229.76 million during the quarter, compared to analyst estimates of $228.33 million. During the same period in the previous year, the company earned $0.64 EPS. The firm's revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.53%. Ormat Technologies's payout ratio is presently 23.30%.

Insider Buying and Selling at Ormat Technologies

In other news, Director Dafna Sharir sold 1,601 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the sale, the director directly owned 3,238 shares of the company's stock, valued at $277,269.94. This trade represents a 33.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David Granot sold 950 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $73.10, for a total value of $69,445.00. Following the completion of the sale, the director directly owned 2,713 shares of the company's stock, valued at approximately $198,320.30. The trade was a 25.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,329 shares of company stock valued at $423,443 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Ormat Technologies

Several hedge funds have recently added to or reduced their stakes in ORA. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ormat Technologies by 273,109.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 956,233 shares of the energy company's stock worth $67,673,000 after purchasing an additional 955,883 shares during the last quarter. Norges Bank acquired a new stake in Ormat Technologies during the 4th quarter worth approximately $62,851,000. Canada Pension Plan Investment Board lifted its holdings in Ormat Technologies by 7,951.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 660,255 shares of the energy company's stock worth $46,726,000 after purchasing an additional 652,055 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Ormat Technologies by 19.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,890,235 shares of the energy company's stock worth $133,770,000 after purchasing an additional 303,756 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ormat Technologies by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company's stock worth $409,305,000 after purchasing an additional 274,540 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

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.