Ormat Technologies, Inc. (NYSE:ORA) to Issue $0.12 Quarterly Dividend

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Tuesday, February 24th. Investors of record on Tuesday, March 10th will be given a dividend of 0.12 per share by the energy company on Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, March 10th.

Ormat Technologies has raised its dividend payment by an average of 0.0%annually over the last three years. Ormat Technologies has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ormat Technologies to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.0%.

Ormat Technologies Stock Down 4.1%

Ormat Technologies stock traded down $4.75 during mid-day trading on Thursday, hitting $112.31. 239,570 shares of the company’s stock were exchanged, compared to its average volume of 642,326. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 0.79. The stock has a market cap of $6.83 billion, a P/E ratio of 51.40, a P/E/G ratio of 4.69 and a beta of 0.77. Ormat Technologies has a 1-year low of $64.39 and a 1-year high of $132.58. The stock has a 50 day moving average of $118.69 and a two-hundred day moving average of $107.99.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $276.04 million during the quarter, compared to analysts’ expectations of $257.75 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.12%.The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, analysts anticipate that Ormat Technologies will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Ormat Technologies in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC raised its holdings in Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock valued at $33,000 after acquiring an additional 211 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in Ormat Technologies in the 4th quarter valued at approximately $33,000. Los Angeles Capital Management LLC bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $32,000. Finally, Ameriflex Group Inc. grew its holdings in shares of Ormat Technologies by 1,100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 360 shares of the energy company’s stock worth $35,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds 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.