Ormat Technologies, Inc. (NYSE:ORA) Receives Consensus Rating of “Moderate Buy” from Analysts

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $130.75.

Several analysts have commented on the stock. Barclays dropped their target price on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 price target on shares of Ormat Technologies in a report on Wednesday, September 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ormat Technologies in a research report on Wednesday, September 9th. Wall Street Zen lowered shares of Ormat Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Wolfe Research began coverage on shares of Ormat Technologies in a research report on Monday, June 8th. They issued a “peer perform” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORA. BlackRock Inc. bought a new position in shares of Ormat Technologies in the 2nd quarter valued at about $896,374,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Ormat Technologies during the second quarter worth $259,568,000. Geode Capital Management LLC raised its position in Ormat Technologies by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock worth $178,033,000 after acquiring an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Ormat Technologies during the second quarter worth $173,638,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Ormat Technologies by 32.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,147,863 shares of the energy company’s stock valued at $128,469,000 after acquiring an additional 282,583 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Stock Performance

Shares of Ormat Technologies stock opened at $97.39 on Monday. The stock’s fifty day simple moving average is $103.77 and its 200 day simple moving average is $114.09. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $5.99 billion, a PE ratio of 47.98, a PEG ratio of 3.75 and a beta of 0.90. Ormat Technologies has a 12 month low of $90.62 and a 12 month high of $146.39.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $258.76 million during the quarter, compared to analysts’ expectations of $240.03 million. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, research analysts predict that Ormat Technologies will post 2.6 EPS for the current year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.65%.

About Ormat Technologies

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates geothermal, recovered energy, and energy storage facilities. The company also designs and manufactures equipment used to generate electricity from geothermal resources and waste heat, including its Ormat Energy Converter systems.

Ormat’s geothermal activities include the exploration and development of geothermal resources, power plant construction, and long-term operation and maintenance. Its recovered energy business converts industrial waste heat and other low-temperature heat sources into electricity.