Ormat Technologies (NYSE:ORA) Sets New 1-Year High - Still a Buy?

Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $91.81 and last traded at $90.45, with a volume of 395957 shares changing hands. The stock had previously closed at $90.38.

Analyst Ratings Changes

ORA has been the topic of a number of recent analyst reports. Barclays upped their price objective on Ormat Technologies from $86.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. raised their target price on Ormat Technologies from $75.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ormat Technologies currently has an average rating of "Hold" and an average price target of $86.14.

Ormat Technologies Stock Down 1.0%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 0.97. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 43.47, a price-to-earnings-growth ratio of 4.36 and a beta of 0.64. The business has a 50-day simple moving average of $81.37 and a 200-day simple moving average of $73.23.

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

Ormat Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, May 21st. Ormat Technologies's dividend payout ratio (DPR) is presently 23.30%.

Insider Activity at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 547 shares of Ormat Technologies stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $85.54, for a total transaction of $46,790.38. Following the transaction, the director owned 6,137 shares of the company's stock, valued at $524,958.98. The trade was a 8.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dafna Sharir sold 1,601 shares of Ormat Technologies 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 transaction, the director directly owned 3,238 shares in the company, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,329 shares of company stock valued at $423,443 over the last 90 days. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Ormat Technologies in the fourth quarter valued at about $204,000. Thrivent Financial for Lutherans raised its holdings in shares of Ormat Technologies by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,617 shares of the energy company's stock worth $922,000 after acquiring an additional 878 shares during the last quarter. Xponance Inc. raised its stake in Ormat Technologies by 20.0% in the 4th quarter. Xponance Inc. now owns 8,757 shares of the energy company's stock valued at $593,000 after purchasing an additional 1,462 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ormat Technologies by 7.0% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,689 shares of the energy company's stock valued at $859,000 after purchasing an additional 829 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Ormat Technologies in the 4th quarter valued at about $5,953,000. Institutional investors and hedge funds own 95.49% of the company's stock.

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.

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