Shares of Ormat Technologies, Inc. (NYSE:ORA) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $66.50.

ORA has been the subject of several research analyst reports. TheStreet downgraded Ormat Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, August 9th. ValuEngine upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Ormat Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. upgraded Ormat Technologies from a “neutral” rating to an “overweight” rating and cut their price target for the company from $64.00 to $60.00 in a research note on Thursday, August 9th.

In other news, EVP Bob Sullivan sold 20,329 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $56.94, for a total transaction of $1,157,533.26. Following the transaction, the executive vice president now owns 23,329 shares in the company, valued at $1,328,353.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 20,791 shares of company stock worth $1,181,555. Insiders own 0.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in ORA. Royal Bank of Canada increased its stake in shares of Ormat Technologies by 103.6% during the first quarter. Royal Bank of Canada now owns 5,445 shares of the energy company’s stock valued at $307,000 after buying an additional 2,771 shares during the period. Principal Financial Group Inc. increased its stake in shares of Ormat Technologies by 6.1% during the first quarter. Principal Financial Group Inc. now owns 16,849 shares of the energy company’s stock valued at $950,000 after buying an additional 976 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Ormat Technologies by 37.7% during the second quarter. Xact Kapitalforvaltning AB now owns 6,944 shares of the energy company’s stock valued at $369,000 after buying an additional 1,900 shares during the period. Bank of Montreal Can increased its stake in shares of Ormat Technologies by 36.6% during the second quarter. Bank of Montreal Can now owns 7,668 shares of the energy company’s stock valued at $408,000 after buying an additional 2,055 shares during the period. Finally, Bridge Creek Capital Management LLC grew its stake in Ormat Technologies by 7.7% in the second quarter. Bridge Creek Capital Management LLC now owns 37,568 shares of the energy company’s stock valued at $1,998,000 after purchasing an additional 2,685 shares during the last quarter. Hedge funds and other institutional investors own 72.62% of the company’s stock.

NYSE:ORA opened at $52.56 on Friday. Ormat Technologies has a twelve month low of $45.79 and a twelve month high of $70.68. The firm has a market cap of $2.66 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.87 and a beta of 1.46. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.67.

Ormat Technologies (NYSE:ORA) last released its earnings results on Tuesday, November 6th. The energy company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). Ormat Technologies had a return on equity of 8.86% and a net margin of 17.39%. The business had revenue of $166.50 million for the quarter, compared to the consensus estimate of $172.97 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Ormat Technologies will post 1.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, November 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. Ormat Technologies’s dividend payout ratio is currently 13.38%.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.

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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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