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

Key Points

• Ormat received a consensus "Moderate Buy" from 12 analysts (eight buy, four hold) with an average 1‑year target of $128.64.
• The company reported quarterly revenue of $276.04 million—up 19.6% year‑over‑year and above estimates—while EPS was $0.67 (in line with expectations); analysts forecast full‑year EPS of 1.94.
• Ormat pays a quarterly dividend of $0.12 ($0.48 annualized, ~0.4% yield, DPR ~23.9%); insiders have sold shares recently even as institutional investors own about 95.49% of the stock.

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $128.6364.

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price target on Ormat Technologies from $148.00 to $143.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. TD Cowen cut their price objective on Ormat Technologies from $131.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Ormat Technologies in a research note on Thursday, January 22nd. Royal Bank Of Canada began coverage on Ormat Technologies in a research report on Tuesday, March 3rd. They set an "outperform" rating and a $130.00 target price for the company. Finally, Roth Mkm set a $139.00 target price on shares of Ormat Technologies in a research note on Wednesday, January 28th.

Ormat Technologies Price Performance

ORA stock opened at $112.65 on Friday. The stock has a market cap of $6.85 billion, a PE ratio of 56.05, a P/E/G ratio of 4.91 and a beta of 0.80. Ormat Technologies has a 12 month low of $70.02 and a 12 month high of $132.58. The company has a 50-day moving average price of $113.02 and a 200 day moving average price of $112.52. The company has a current ratio of 0.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.79.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts' consensus estimates of $0.67. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The company had revenue of $276.04 million for the quarter, compared to analyst estimates of $257.75 million. During the same period in the prior year, the company posted $0.67 EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts anticipate that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th were issued a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies's dividend payout ratio (DPR) is presently 23.88%.

Insider Transactions at Ormat Technologies

In other Ormat Technologies news, insider Jessica Woelfel sold 2,359 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the transaction, the insider directly owned 3,433 shares in the company, valued at $361,014.28. This represents a 40.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 3,364 shares of company stock valued at $353,621. 0.56% of the stock is owned by insiders.

Institutional Trading of Ormat Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Ormat Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company's stock worth $211,036,000 after purchasing an additional 43,749 shares in the last quarter. Geode Capital Management LLC raised its position in Ormat Technologies by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company's stock valued at $178,033,000 after purchasing an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Ormat Technologies by 62.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company's stock worth $89,928,000 after buying an additional 413,384 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Ormat Technologies by 155.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company's stock worth $97,935,000 after buying an additional 540,000 shares during the period. Finally, Norges Bank bought a new position in shares of Ormat Technologies during the 4th quarter worth $86,545,000. Institutional investors own 95.49% of the company's stock.

About Ormat Technologies

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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