Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) PT at $83.56

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $83.56.

ORA has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 28th. StockNews.com upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Jefferies Financial Group boosted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a report on Tuesday, March 25th. Baird R W raised Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Finally, Robert W. Baird initiated coverage on shares of Ormat Technologies in a research note on Thursday, March 13th. They set a "neutral" rating and a $81.00 price target on the stock.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 409 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Granot sold 1,666 shares of Ormat Technologies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now directly owns 1,910 shares of the company's stock, valued at $131,790. This represents a 46.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,242 shares of company stock valued at $156,427 over the last ninety days. Corporate insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 274,540 shares during the period. Impax Asset Management Group plc grew its position in shares of Ormat Technologies by 7.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company's stock valued at $162,586,000 after buying an additional 163,505 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ormat Technologies by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company's stock valued at $107,440,000 after acquiring an additional 93,418 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ormat Technologies by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company's stock valued at $93,029,000 after buying an additional 72,135 shares during the period. Finally, Van Berkom & Associates Inc. grew its stake in shares of Ormat Technologies by 2.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,280,026 shares of the energy company's stock valued at $90,587,000 after buying an additional 33,719 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Price Performance

ORA traded up $0.41 on Friday, hitting $72.44. 432,596 shares of the company's stock were exchanged, compared to its average volume of 485,563. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 36.96, a P/E/G ratio of 3.18 and a beta of 0.65. The firm has a 50-day moving average price of $70.89 and a 200-day moving average price of $71.80. Ormat Technologies has a fifty-two week low of $61.58 and a fifty-two week high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.66%. Ormat Technologies's dividend payout ratio is 23.53%.

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.