Ormat Technologies, Inc. (ORA) to Issue Quarterly Dividend of $0.12 on September 2nd

Ormat Technologies, Inc. (NYSE:ORA) declared 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 yield of 0.4%. The ex-dividend date of this dividend 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 payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 9.3%

Ormat Technologies stock opened at $107.14 on Friday. The firm has a market cap of $6.58 billion, a PE ratio of 52.78, a P/E/G ratio of 4.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.07. The firm’s 50 day moving average price is $117.03 and its two-hundred day moving average price is $117.56. Ormat Technologies has a twelve month low of $84.67 and a twelve month high of $146.39.

Ormat Technologies (NYSE:ORA) last issued 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. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.65%. The company had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts predict that Ormat Technologies will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling at Ormat Technologies

In related news, Director Dafna Sharir sold 883 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $122.44, for a total value of $108,114.52. Following the completion of the sale, the director directly owned 3,140 shares in the company, valued at approximately $384,461.60. This represents a 21.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michal Marom sold 3,080 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $130.97, for a total transaction of $403,387.60. Following the transaction, the director directly owned 1,766 shares in the company, valued at $231,293.02. The trade was a 63.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,585 shares of company stock worth $4,090,998 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Ormat Technologies

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Ormat Technologies by 324.1% in the 1st quarter. AQR Capital Management LLC now owns 24,918 shares of the energy company’s stock worth $1,740,000 after purchasing an additional 19,043 shares during the last quarter. United Services Automobile Association acquired a new position in Ormat Technologies during the first quarter valued at approximately $243,000. Empowered Funds LLC grew its holdings in Ormat Technologies by 7.3% during the first quarter. Empowered Funds LLC now owns 4,201 shares of the energy company’s stock valued at $297,000 after purchasing an additional 286 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Ormat Technologies by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company’s stock valued at $16,593,000 after purchasing an additional 43,483 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Ormat Technologies by 10.5% in the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company’s stock valued at $1,740,000 after purchasing an additional 2,329 shares during the period. Institutional investors own 95.49% of the company’s stock.

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.