Encompass Capital Advisors LLC Has $34.54 Million Stock Holdings in Ormat Technologies, Inc. $ORA

Encompass Capital Advisors LLC decreased its holdings in Ormat Technologies, Inc. (NYSE:ORA) by 51.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 312,675 shares of the energy company’s stock after selling 325,857 shares during the quarter. Ormat Technologies accounts for approximately 1.4% of Encompass Capital Advisors LLC’s holdings, making the stock its 25th biggest holding. Encompass Capital Advisors LLC owned 0.51% of Ormat Technologies worth $34,541,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ORA. Aster Capital Management DIFC Ltd acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $32,000. Wolff Wiese Magana LLC bought a new stake in shares of Ormat Technologies in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Ormat Technologies by 245.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 297 shares of the energy company’s stock worth $33,000 after purchasing an additional 211 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Ormat Technologies by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Activity

In other Ormat Technologies news, Director Stanley Stern sold 250 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $138.42, for a total transaction of $34,605.00. Following the sale, the director owned 5,800 shares of the company’s stock, valued at $802,836. This represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Assi Ginzburg sold 17,776 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $134.75, for a total transaction of $2,395,316.00. Following the sale, the chief financial officer directly owned 1,970 shares in the company, valued at approximately $265,457.50. This represents a 90.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,721 shares of company stock worth $4,105,657. 0.56% of the stock is currently owned by insiders.

Ormat Technologies Stock Down 5.6%

ORA opened at $126.43 on Thursday. The firm’s 50-day simple moving average is $125.87 and its 200-day simple moving average is $118.73. 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, Inc. has a twelve month low of $80.82 and a twelve month high of $146.39. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 5.71 and a beta of 0.85.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. Ormat Technologies had a net margin of 10.97% and a return on equity of 6.61%. The firm had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 75.8% on a year-over-year basis. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.35 EPS for the current fiscal year.

Ormat Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. Ormat Technologies’s dividend payout ratio is currently 23.30%.

Wall Street Analysts Forecast Growth

ORA has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price on shares of Ormat Technologies in a report on Friday, May 8th. Citigroup upped their target price on shares of Ormat Technologies from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Royal Bank Of Canada initiated coverage on shares of Ormat Technologies in a report on Tuesday, March 3rd. They issued an “outperform” rating and a $130.00 target price on the stock. Piper Sandler upped their target price on shares of Ormat Technologies from $125.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, TD Cowen lowered their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.67.

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.