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

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.12 per share by the energy company on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, August 19th.

Ormat Technologies has raised its dividend payment by an average of 0.0%per year over the last three years. Ormat Technologies has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ormat Technologies to earn $2.51 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 19.1%.

Ormat Technologies Price Performance

ORA opened at $98.06 on Thursday. The company has a market capitalization of $6.03 billion, a P/E ratio of 47.60, a PEG ratio of 4.27 and a beta of 0.90. Ormat Technologies has a 1-year low of $84.13 and a 1-year high of $146.39. The company has a 50-day moving average of $117.64 and a 200-day moving average of $117.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.26 by $0.24. The business had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 EPS. Equities analysts expect that Ormat Technologies will post 2.35 EPS for the current fiscal year.

Ormat Technologies Company Profile

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.