Ormat Technologies, Inc. (NYSE:ORA) Receives $82.88 Consensus PT from Analysts

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $82.67.

A number of research firms recently commented on ORA. Piper Sandler began coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price objective for the company. Baird R W upgraded Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Robert W. Baird began coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price target for the company. Finally, Jefferies Financial Group upgraded Ormat Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $78.00 in a report on Thursday, February 20th.

Insider Activity at Ormat Technologies

In related news, Director David Granot sold 1,666 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $131,790. This represents a 46.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Ormat Technologies by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after buying an additional 274,540 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Ormat Technologies by 6.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,446,624 shares of the energy company’s stock valued at $188,125,000 after buying an additional 140,882 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Ormat Technologies by 7.3% in the fourth quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock valued at $162,586,000 after buying an additional 163,505 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ormat Technologies by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,586,479 shares of the energy company’s stock valued at $107,440,000 after buying an additional 93,418 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Ormat Technologies by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,373,426 shares of the energy company’s stock valued at $93,029,000 after buying an additional 72,135 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Trading Up 1.3 %

NYSE ORA opened at $72.77 on Thursday. The stock has a 50-day simple moving average of $66.93 and a 200 day simple moving average of $72.98. The company has a market capitalization of $4.40 billion, a PE ratio of 37.13, a P/E/G ratio of 3.18 and a beta of 0.51. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Ormat Technologies has a 12 month low of $59.41 and a 12 month high of $84.30.

Ormat Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 annualized dividend and a yield of 0.66%. Ormat Technologies’s dividend payout ratio (DPR) is presently 23.53%.

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.