Brokerages Set Ormat Technologies, Inc. (NYSE:ORA) PT at $82.88

Ormat Technologies, Inc. (NYSE:ORA) has been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $82.67.

Several equities research analysts have recently weighed in on ORA shares. Baird R W upgraded Ormat Technologies to a “hold” rating in a research note on Thursday, March 13th. Robert W. Baird initiated coverage on Ormat Technologies in a report on Thursday, March 13th. They issued a “neutral” rating and a $81.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Jefferies Financial Group raised Ormat Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Thursday, February 20th. Finally, Piper Sandler initiated coverage on Ormat Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $78.00 target price on the stock.

Ormat Technologies Trading Down 0.4 %

ORA stock opened at $71.80 on Thursday. Ormat Technologies has a 1-year low of $59.41 and a 1-year high of $84.30. The firm has a market cap of $4.34 billion, a P/E ratio of 36.63, a P/E/G ratio of 3.18 and a beta of 0.51. The business’s 50 day moving average is $67.04 and its 200-day moving average is $72.95. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Ormat Technologies Dividend Announcement

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

Insiders Place Their Bets

In other Ormat Technologies news, Director David Granot sold 1,666 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $131,790. This represents a 46.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ORA. Norges Bank acquired a new position in shares of Ormat Technologies in the 4th quarter valued at $62,851,000. Vanguard Group Inc. increased its position in shares of Ormat Technologies by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,043,996 shares of the energy company’s stock valued at $409,305,000 after buying an additional 274,540 shares in the last quarter. Erste Asset Management GmbH bought a new position in Ormat Technologies during the 3rd quarter worth about $19,096,000. Impax Asset Management Group plc increased its holdings in Ormat Technologies by 7.3% during the 4th quarter. Impax Asset Management Group plc now owns 2,415,479 shares of the energy company’s stock worth $162,586,000 after purchasing an additional 163,505 shares in the last quarter. Finally, Soros Fund Management LLC bought a new position in Ormat Technologies during the 4th quarter worth about $10,158,000. 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.