Shares of Ormat Technologies, Inc. (NYSE:ORA) have received a consensus rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $66.60.
A number of equities analysts have weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Ormat Technologies in a research report on Friday. They noted that the move was a valuation call. UBS assumed coverage on shares of Ormat Technologies in a research report on Friday, March 16th. They set a “neutral” rating for the company. JPMorgan Chase reiterated an “overweight” rating and set a $68.00 target price (down previously from $70.00) on shares of Ormat Technologies in a research report on Friday, March 16th. Zacks Investment Research lowered shares of Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Cowen restated a “buy” rating and issued a $75.00 price objective on shares of Ormat Technologies in a research report on Wednesday, January 24th.
Several hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ormat Technologies by 43.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock valued at $167,000 after acquiring an additional 791 shares during the period. Cortina Asset Management LLC boosted its position in shares of Ormat Technologies by 0.6% in the fourth quarter. Cortina Asset Management LLC now owns 133,718 shares of the energy company’s stock valued at $8,553,000 after acquiring an additional 846 shares during the period. Swiss National Bank boosted its position in shares of Ormat Technologies by 2.1% in the fourth quarter. Swiss National Bank now owns 63,834 shares of the energy company’s stock valued at $4,083,000 after acquiring an additional 1,300 shares during the period. Wells Fargo & Company MN boosted its position in shares of Ormat Technologies by 2.9% in the third quarter. Wells Fargo & Company MN now owns 46,654 shares of the energy company’s stock valued at $2,848,000 after acquiring an additional 1,311 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in shares of Ormat Technologies by 42.3% in the third quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock valued at $295,000 after acquiring an additional 1,386 shares during the period. Institutional investors own 70.55% of the company’s stock.
Shares of NYSE:ORA opened at $55.79 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.14 and a quick ratio of 1.07. The stock has a market cap of $2,877.96, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.78 and a beta of 1.37. Ormat Technologies has a twelve month low of $53.45 and a twelve month high of $70.68.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th were given a $0.23 dividend. This is a positive change from Ormat Technologies’s previous quarterly dividend of $0.08. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, March 13th. Ormat Technologies’s dividend payout ratio (DPR) is 30.77%.
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Ormat Technologies Company Profile
Ormat Technologies, Inc is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. Its equipment manufacturing operations are located in Israel. It conducts its business activities in two business segments: Electricity segment and Product segment.
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