Ormat Technologies, Inc. (ORA) to Issue Quarterly Dividend of $0.12 on December 2nd

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Wednesday, November 18th will be given a dividend of $0.12 per share by the energy company on Wednesday, December 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, November 18th.

Ormat Technologies has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Ormat Technologies to earn $2.46 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.5%.

Ormat Technologies Stock Down 1.2%

NYSE ORA opened at $93.18 on Friday. Ormat Technologies has a 12 month low of $85.77 and a 12 month high of $146.39. The company has a market capitalization of $5.73 billion, a P/E ratio of 43.34, a PEG ratio of 3.50 and a beta of 0.89. The company’s 50 day simple moving average is $93.97 and its 200 day simple moving average is $111.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.00.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.23. The firm had revenue of $275.12 million during the quarter, compared to analysts’ expectations of $248.36 million. Ormat Technologies had a net margin of 11.07% and a return on equity of 6.94%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Equities research analysts expect that Ormat Technologies will post 2.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ormat Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in shares of Ormat Technologies during the second quarter worth $2,979,000. Deutsche Bank AG acquired a new stake in Ormat Technologies during the second quarter valued at $42,015,000. Trillium Asset Management LLC acquired a new stake in Ormat Technologies during the second quarter valued at $16,106,000. Readystate Asset Management LP purchased a new position in Ormat Technologies in the second quarter valued at about $3,165,000. Finally, BlackRock Inc. purchased a new position in Ormat Technologies in the second quarter valued at about $896,374,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

About Ormat Technologies

Ormat Technologies, Inc (NYSE: ORA) develops, owns, and operates renewable and alternative energy projects. The company’s principal activities include geothermal power generation, energy storage, and recovered energy generation, which converts waste heat from industrial processes into electricity.

Ormat provides equipment and services for geothermal projects, including turbines, generators, power plants, and related engineering and development capabilities. Its geothermal technology is designed to generate electricity from naturally occurring underground heat, including resources that may be unsuitable for conventional steam-based systems.

Founded in 1965, Ormat serves customers and operates projects in multiple international markets, including the United States, Latin America, Africa, and Asia.