Ormat Technologies, Inc. (NYSE:ORA) Receives $82.88 Consensus Target Price from Brokerages

Shares of Ormat Technologies, Inc. (NYSE:ORA) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $82.67.

A number of research firms recently commented on ORA. Robert W. Baird assumed coverage on Ormat Technologies in a report on Thursday, March 13th. They set a “neutral” rating and a $81.00 price target for the company. Piper Sandler started coverage on Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Baird R W upgraded shares of Ormat Technologies to a “hold” rating in a research report on Thursday, March 13th. Finally, Jefferies Financial Group upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $78.00 in a report on Thursday, February 20th.

Ormat Technologies Trading Down 0.4 %

Ormat Technologies stock opened at $71.80 on Thursday. Ormat Technologies has a 52 week low of $59.41 and a 52 week high of $84.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $4.34 billion, a P/E ratio of 36.63, a PEG ratio of 3.18 and a beta of 0.51. The stock has a 50-day simple moving average of $67.04 and a 200 day simple moving average of $72.95.

Ormat Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Ormat Technologies’s dividend payout ratio (DPR) is currently 23.53%.

Insiders Place Their Bets

In related news, Director David Granot sold 1,666 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $69.00, for a total transaction of $114,954.00. Following the transaction, the director now owns 1,910 shares in the company, valued at $131,790. The trade was a 46.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ORA. Pacer Advisors Inc. raised its holdings in Ormat Technologies by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock worth $544,000 after buying an additional 160 shares during the last quarter. Bailard Inc. grew its position in Ormat Technologies by 0.9% during the fourth quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after buying an additional 169 shares during the period. Securian Asset Management Inc. grew its position in Ormat Technologies by 5.1% during the fourth quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock valued at $295,000 after buying an additional 212 shares during the period. Versant Capital Management Inc grew its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock valued at $27,000 after buying an additional 229 shares during the period. Finally, Caprock Group LLC lifted its holdings in Ormat Technologies by 4.0% during the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.