MetLife Investment Advisors LLC bought a new stake in shares of Ormat Technologies (NYSE:ORA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,869 shares of the energy company’s stock, valued at approximately $1,207,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ormat Technologies by 43.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,614 shares of the energy company’s stock worth $167,000 after buying an additional 791 shares during the period. Cortina Asset Management LLC boosted its holdings in Ormat Technologies by 0.6% in the 4th quarter. Cortina Asset Management LLC now owns 133,718 shares of the energy company’s stock worth $8,553,000 after buying an additional 846 shares during the period. Swiss National Bank boosted its holdings in Ormat Technologies by 2.1% in the 4th quarter. Swiss National Bank now owns 63,834 shares of the energy company’s stock worth $4,083,000 after buying an additional 1,300 shares during the period. Wells Fargo & Company MN boosted its holdings in Ormat Technologies by 2.9% in the 3rd quarter. Wells Fargo & Company MN now owns 46,654 shares of the energy company’s stock worth $2,848,000 after buying an additional 1,311 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Ormat Technologies by 42.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,665 shares of the energy company’s stock worth $295,000 after buying an additional 1,386 shares during the period. 70.55% of the stock is owned by institutional investors.
NYSE ORA opened at $55.03 on Tuesday. Ormat Technologies has a 1 year low of $53.45 and a 1 year high of $70.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.14. The company has a market capitalization of $2,822.81, a price-to-earnings ratio of 18.40, a PEG ratio of 1.75 and a beta of 1.37.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were paid a $0.23 dividend. The ex-dividend date was Tuesday, March 13th. This is a boost from Ormat Technologies’s previous quarterly dividend of $0.08. This represents a $0.92 annualized dividend and a yield of 1.67%. Ormat Technologies’s dividend payout ratio is currently 30.77%.
Several research firms recently commented on ORA. Zacks Investment Research downgraded shares of Ormat Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase raised their price objective on shares of Ormat Technologies from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Ormat Technologies in a report on Friday. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Ormat Technologies in a report on Wednesday, January 24th. Finally, UBS began coverage on shares of Ormat Technologies in a report on Friday, March 16th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.57.
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Ormat Technologies Company Profile
Ormat Technologies, Inc engages in the geothermal and recovered energy power business worldwide. The company operates through Electricity and Product segments. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. This segment also offers energy storage, demand response, and energy management related services.
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