Ormat Technologies (NYSE:ORA) Releases Earnings Results

Ormat Technologies (NYSE:ORA) announced its quarterly earnings results on Wednesday. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03, Zacks reports. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%.

Ormat Technologies Stock Performance

NYSE:ORA traded up $1.37 on Wednesday, reaching $117.22. 684,844 shares of the company’s stock were exchanged, compared to its average volume of 654,274. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 53.77, a P/E/G ratio of 4.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70. The stock has a fifty day simple moving average of $118.52 and a 200-day simple moving average of $107.92. Ormat Technologies has a 52 week low of $64.39 and a 52 week high of $132.58.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in Ormat Technologies in the 4th quarter worth approximately $207,000. Brooklyn Investment Group grew its position in Ormat Technologies by 1,159.4% in the third quarter. Brooklyn Investment Group now owns 2,141 shares of the energy company’s stock worth $206,000 after acquiring an additional 1,971 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Ormat Technologies by 241.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,828 shares of the energy company’s stock valued at $202,000 after acquiring an additional 1,293 shares during the last quarter. Danske Bank A S purchased a new position in shares of Ormat Technologies during the 3rd quarter valued at about $154,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Ormat Technologies by 9.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,153 shares of the energy company’s stock worth $127,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ORA. Oppenheimer raised their target price on Ormat Technologies from $125.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. TD Cowen upgraded shares of Ormat Technologies from a “hold” rating to a “buy” rating in a report on Friday, January 9th. Jefferies Financial Group lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $125.00 to $130.00 in a research note on Friday, February 13th. Roth Mkm set a $139.00 target price on Ormat Technologies in a research note on Wednesday, January 28th. Finally, UBS Group reaffirmed a “buy” rating and issued a $148.00 target price on shares of Ormat Technologies in a report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.80.

About Ormat Technologies

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.