Ormat Technologies (NYSE:ORA) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Ormat Technologies (NYSE:ORA) from a hold rating to a buy rating in a research note released on Tuesday, March 5th.

Separately, Zacks Investment Research lowered shares of Ormat Technologies from a hold rating to a sell rating in a report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Ormat Technologies presently has an average rating of Hold and a consensus target price of $64.25.

Shares of ORA stock opened at $55.09 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72. Ormat Technologies has a one year low of $45.79 and a one year high of $60.26. The company has a market capitalization of $2.82 billion, a PE ratio of 34.18, a P/E/G ratio of 2.44 and a beta of 1.28.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.80%. This is a positive change from Ormat Technologies’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, March 13th. Ormat Technologies’s dividend payout ratio (DPR) is presently 19.23%.

Several hedge funds and other institutional investors have recently bought and sold shares of ORA. Bank of New York Mellon Corp grew its position in shares of Ormat Technologies by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 259,457 shares of the energy company’s stock valued at $13,801,000 after buying an additional 2,484 shares during the last quarter. Russell Investments Group Ltd. grew its position in Ormat Technologies by 37.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 28,586 shares of the energy company’s stock worth $1,546,000 after purchasing an additional 7,759 shares during the last quarter. US Bancorp DE lifted its stake in shares of Ormat Technologies by 27.9% in the 3rd quarter. US Bancorp DE now owns 15,235 shares of the energy company’s stock worth $825,000 after acquiring an additional 3,324 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Ormat Technologies by 4.7% in the third quarter. Wells Fargo & Company MN now owns 60,200 shares of the energy company’s stock valued at $3,257,000 after purchasing an additional 2,698 shares during the period. Finally, Yorktown Management & Research Co Inc lifted its stake in shares of Ormat Technologies by 23.9% in the third quarter. Yorktown Management & Research Co Inc now owns 5,700 shares of the energy company’s stock valued at $308,000 after purchasing an additional 1,100 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Ormat Technologies (NYSE:ORA)

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