Ormat Technologies, Inc. (NYSE:ORA) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Ormat Technologies, Inc. (NYSE:ORA) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $130.75.

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Ormat Technologies from a “strong sell” rating to a “sell” rating in a report on Sunday, October 11th. Sanford C. Bernstein upgraded shares of Ormat Technologies from an “underperform” rating to a “market perform” rating and set a $112.00 target price on the stock in a report on Friday, September 4th. Barclays decreased their price target on shares of Ormat Technologies from $127.00 to $122.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target on shares of Ormat Technologies in a research note on Wednesday, September 9th. Finally, Oppenheimer upped their price objective on Ormat Technologies from $141.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its position in Ormat Technologies by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 2,452 shares of the energy company’s stock valued at $274,000 after purchasing an additional 81 shares in the last quarter. State of Wyoming grew its position in shares of Ormat Technologies by 6.7% during the fourth quarter. State of Wyoming now owns 2,091 shares of the energy company’s stock worth $231,000 after buying an additional 131 shares in the last quarter. Evexia Wealth LLC grew its position in shares of Ormat Technologies by 2.8% during the first quarter. Evexia Wealth LLC now owns 5,432 shares of the energy company’s stock worth $610,000 after buying an additional 149 shares in the last quarter. Corient Private Wealth LP grew its position in shares of Ormat Technologies by 5.7% during the second quarter. Corient Private Wealth LP now owns 3,063 shares of the energy company’s stock worth $334,000 after buying an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Ormat Technologies by 31.9% during the first quarter. EverSource Wealth Advisors LLC now owns 694 shares of the energy company’s stock worth $78,000 after buying an additional 168 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Ormat Technologies Stock Performance

NYSE ORA opened at $89.66 on Friday. The company has a market cap of $5.51 billion, a P/E ratio of 44.17, a P/E/G ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00. The stock has a 50-day moving average of $99.82 and a two-hundred day moving average of $111.80. Ormat Technologies has a 1-year low of $87.06 and a 1-year high of $146.39.

Ormat Technologies (NYSE:ORA) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The company had revenue of $258.76 million for the quarter, compared to analyst estimates of $240.03 million. Ormat Technologies had a net margin of 10.66% and a return on equity of 6.61%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, analysts anticipate that Ormat Technologies will post 2.63 EPS for the current year.

Ormat Technologies Dividend Announcement

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

Ormat Technologies Company Profile

Ormat Technologies, Inc is a renewable energy company that develops, owns, and operates clean energy assets. The company’s primary business is geothermal power, using heat from the earth to generate electricity. It also provides recovered energy solutions that convert waste heat from industrial processes into power.

Ormat’s portfolio includes geothermal, recovered energy, solar photovoltaic, and energy storage projects. In addition to owning and operating power plants, the company designs and manufactures equipment for geothermal and recovered energy applications and provides related engineering, construction, and operation services.

Founded in 1965, Ormat serves customers and markets in the United States and internationally.