Ormat Technologies, Inc. (ORA) Receives $67.17 Consensus Price Target from Analysts

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.

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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.

Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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