Ormat Technologies, Inc. $ORA Shares Newly Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC bought a new position in shares of Ormat Technologies, Inc. (NYSE:ORA) in the 3rd quarter, Holdings Channel.com reports. The firm bought 9,572 shares of the energy company’s stock, valued at approximately $834,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Main Street Group LTD purchased a new position in Ormat Technologies in the 1st quarter worth approximately $29,000. Quantbot Technologies LP purchased a new stake in Ormat Technologies during the 2nd quarter valued at approximately $33,000. Allworth Financial LP purchased a new stake in Ormat Technologies during the 2nd quarter valued at approximately $40,000. Root Financial Partners LLC purchased a new stake in Ormat Technologies during the 3rd quarter valued at approximately $42,000. Finally, Balance Wealth Partners LLC bought a new stake in shares of Ormat Technologies during the third quarter valued at approximately $44,000. Institutional investors own 95.49% of the company’s stock.

Ormat Technologies Price Performance

NYSE:ORA opened at $92.36 on Wednesday. The business’s 50-day moving average is $93.34 and its 200 day moving average is $110.64. Ormat Technologies, Inc. has a 12 month low of $85.77 and a 12 month high of $146.39. The company has a market capitalization of $5.68 billion, a P/E ratio of 42.96, a P/E/G ratio of 3.41 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings results on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.23. The business had revenue of $275.12 million during the quarter, compared to analysts’ expectations of $248.36 million. Ormat Technologies had a return on equity of 6.90% and a net margin of 11.07%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 EPS. On average, equities research analysts forecast that Ormat Technologies, Inc. will post 2.78 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 18th. Ormat Technologies’s dividend payout ratio is 22.33%.

Analyst Upgrades and Downgrades

ORA has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Ormat Technologies from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a research note on Thursday, October 15th. Morgan Stanley initiated coverage on shares of Ormat Technologies in a research note on Thursday, October 29th. They set an “overweight” rating and a $123.00 target price for the company. Zacks Research downgraded shares of Ormat Technologies from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Finally, TD Cowen upgraded shares of Ormat Technologies to a “strong-buy” rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.15.

Ormat Technologies Profile

Ormat Technologies is a renewable energy company that develops, owns and operates geothermal power plants and recovered energy generation facilities. It also provides equipment and services for geothermal projects, including its Ormat Energy Converter technology, which converts heat from geothermal resources and industrial processes into electricity. The company’s activities include project development and engineering, construction, plant operation and maintenance, and energy storage. Its geothermal and energy storage operations serve markets in the United States and internationally, including countries in Central America, the Caribbean, Africa and Asia.