Ormat Technologies, Inc. (NYSE:ORA) Given Consensus Rating of "Hold" by Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have received a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $83.29.

A number of equities analysts have issued reports on ORA shares. Baird R W upgraded Ormat Technologies to a "hold" rating in a report on Thursday, March 13th. Jefferies Financial Group increased their price objective on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Robert W. Baird began coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price objective for the company. Wall Street Zen upgraded shares of Ormat Technologies from a "sell" rating to a "hold" rating in a research note on Monday, April 7th. Finally, Barclays increased their price objective on shares of Ormat Technologies from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th.

Ormat Technologies Stock Up 1.2%

ORA stock traded up $0.85 during trading hours on Tuesday, reaching $74.49. 478,839 shares of the stock were exchanged, compared to its average volume of 484,006. The firm's 50-day moving average is $71.67 and its 200-day moving average is $70.91. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.18 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.95 and a quick ratio of 0.87. Ormat Technologies has a 12 month low of $61.58 and a 12 month high of $84.30.

Ormat Technologies (NYSE:ORA - Get Free Report) last released its earnings results on Wednesday, May 7th. The energy company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.10. The firm had revenue of $229.76 million during the quarter, compared to analysts' expectations of $228.33 million. Ormat Technologies had a return on equity of 5.27% and a net margin of 13.33%. The company's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities research analysts expect that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be paid a $0.12 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $0.48 annualized dividend and a yield of 0.64%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.30%.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total value of $114,954.00. Following the completion of the sale, the director now directly owns 1,910 shares in the company, valued at approximately $131,790. This trade represents a 46.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total transaction of $29,509.35. Following the completion of the sale, the insider now owns 6,094 shares of the company's stock, valued at $439,682.10. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,068 shares of company stock worth $291,572. Insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Ormat Technologies during the first quarter worth approximately $304,000. Intech Investment Management LLC lifted its position in Ormat Technologies by 10.5% during the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock worth $1,740,000 after acquiring an additional 2,329 shares during the last quarter. Bayforest Capital Ltd lifted its position in Ormat Technologies by 2,293.3% during the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock worth $479,000 after acquiring an additional 6,490 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Ormat Technologies by 22.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock worth $16,593,000 after acquiring an additional 43,483 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Ormat Technologies by 7.3% during the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company's stock worth $297,000 after acquiring an additional 286 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

About Ormat Technologies

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.