Ormat Technologies, Inc. (ORA) to Issue Quarterly Dividend of $0.12 on March 24th

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Tuesday, March 10th will be paid 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 of this dividend is Tuesday, March 10th.

Ormat Technologies has increased its dividend 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 Price Performance

ORA traded down $5.66 on Thursday, reaching $111.40. 326,182 shares of the company’s stock were exchanged, compared to its average volume of 645,008. Ormat Technologies has a twelve month low of $64.39 and a twelve month high of $132.58. The stock has a market cap of $6.77 billion, a PE ratio of 51.13, a P/E/G ratio of 4.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. The stock’s fifty day moving average price is $118.69 and its 200-day moving average price is $107.99.

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

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.