Millennium Management LLC lessened its holdings in Ormat Technologies (NYSE:ORA) by 80.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,756 shares of the energy company’s stock after selling 28,444 shares during the period. Millennium Management LLC’s holdings in Ormat Technologies were worth $432,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ORA. Orix Corp acquired a new position in Ormat Technologies in the fourth quarter worth about $702,829,000. Clal Insurance Enterprises Holdings Ltd raised its position in Ormat Technologies by 27.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,977,906 shares of the energy company’s stock worth $126,507,000 after purchasing an additional 429,123 shares in the last quarter. Teachers Advisors LLC raised its position in Ormat Technologies by 29.1% in the fourth quarter. Teachers Advisors LLC now owns 404,442 shares of the energy company’s stock worth $25,868,000 after purchasing an additional 91,074 shares in the last quarter. New Amsterdam Partners LLC NY raised its position in Ormat Technologies by 57.0% in the fourth quarter. New Amsterdam Partners LLC NY now owns 171,666 shares of the energy company’s stock worth $10,980,000 after purchasing an additional 62,298 shares in the last quarter. Finally, Impax Asset Management LTD raised its position in Ormat Technologies by 9.2% in the fourth quarter. Impax Asset Management LTD now owns 661,492 shares of the energy company’s stock worth $42,309,000 after purchasing an additional 55,697 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Ormat Technologies opened at $53.32 on Friday, Marketbeat reports. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.37 and a beta of 1.36. Ormat Technologies has a 1-year low of $51.40 and a 1-year high of $53.35.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Monday, May 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. Ormat Technologies’s dividend payout ratio (DPR) is currently 30.77%.
Several brokerages have weighed in on ORA. Zacks Investment Research raised shares of Ormat Technologies from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Saturday, January 27th. JPMorgan Chase upped their price objective on shares of Ormat Technologies from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Cowen reaffirmed a “buy” rating and set a $75.00 price objective on shares of Ormat Technologies in a research note on Wednesday, January 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Ormat Technologies in a research note on Friday, April 6th. They noted that the move was a valuation call. Finally, Roth Capital decreased their price objective on shares of Ormat Technologies from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Ormat Technologies presently has a consensus rating of “Hold” and an average price target of $67.71.
Ormat Technologies Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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