Ormat Technologies, Inc. (ORA) to Issue Quarterly Dividend of $0.12 on March 24th

Ormat Technologies, Inc. (NYSE:ORA) declared a quarterly dividend on Tuesday, February 24th. Shareholders of record on Tuesday, March 10th will be given a dividend of 0.12 per share by the energy company on Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th.

Ormat Technologies has increased its dividend payment by an average of 0.0%annually over the last three years. Ormat Technologies has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ormat Technologies to earn $2.18 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 22.0%.

Ormat Technologies Trading Up 1.0%

ORA opened at $108.89 on Friday. Ormat Technologies has a 52 week low of $64.39 and a 52 week high of $132.58. The company has a quick ratio of 0.75, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $117.89 and a 200-day simple moving average of $108.82. The firm has a market cap of $6.63 billion, a P/E ratio of 54.17, a P/E/G ratio of 4.60 and a beta of 0.84.

Ormat Technologies (NYSE:ORA) last posted its quarterly earnings data on Wednesday, February 25th. The energy company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Ormat Technologies had a return on equity of 5.21% and a net margin of 12.52%.The firm had revenue of $276.04 million for the quarter, compared to the consensus estimate of $257.75 million. During the same quarter in the previous year, the business earned $0.67 EPS. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities analysts expect that Ormat Technologies will post 1.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jessica Woelfel sold 2,359 shares of Ormat Technologies stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $105.16, for a total value of $248,072.44. Following the completion of the transaction, the insider owned 3,433 shares in the company, valued at $361,014.28. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ormat Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of ORA. Dimensional Fund Advisors LP grew its stake in shares of Ormat Technologies by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,910,292 shares of the energy company’s stock worth $211,036,000 after purchasing an additional 43,749 shares in the last quarter. Geode Capital Management LLC raised its stake in Ormat Technologies by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 1,611,360 shares of the energy company’s stock valued at $178,033,000 after buying an additional 102,864 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Ormat Technologies by 62.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,073,639 shares of the energy company’s stock worth $89,928,000 after buying an additional 413,384 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Ormat Technologies by 155.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 886,526 shares of the energy company’s stock worth $97,935,000 after buying an additional 540,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Ormat Technologies during the 4th quarter worth about $86,545,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.