Eagle Global Advisors LLC Boosts Stake in Ormat Technologies, Inc. (NYSE:ORA)

Eagle Global Advisors LLC increased its position in Ormat Technologies, Inc. (NYSE:ORA) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,700 shares of the energy company’s stock after purchasing an additional 1,000 shares during the quarter. Eagle Global Advisors LLC owned approximately 0.06% of Ormat Technologies worth $2,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc increased its stake in shares of Ormat Technologies by 15.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,638,182 shares of the energy company’s stock valued at $199,004,000 after purchasing an additional 343,650 shares in the last quarter. Norges Bank purchased a new position in Ormat Technologies during the fourth quarter valued at $25,709,000. Van Berkom & Associates Inc. boosted its holdings in Ormat Technologies by 32.0% in the third quarter. Van Berkom & Associates Inc. now owns 1,035,686 shares of the energy company’s stock worth $72,415,000 after acquiring an additional 250,884 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in Ormat Technologies by 9.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 2,313,856 shares of the energy company’s stock worth $177,552,000 after acquiring an additional 196,517 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Ormat Technologies by 25.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 864,232 shares of the energy company’s stock worth $65,500,000 after acquiring an additional 172,934 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Ormat Technologies Stock Performance

Shares of NYSE ORA traded up $1.00 during trading on Friday, reaching $73.55. 363,729 shares of the company traded hands, compared to its average volume of 443,511. The firm has a 50 day simple moving average of $66.62 and a 200-day simple moving average of $67.62. Ormat Technologies, Inc. has a 52-week low of $58.73 and a 52-week high of $88.26. The stock has a market capitalization of $4.44 billion, a PE ratio of 33.13, a P/E/G ratio of 3.51 and a beta of 0.48. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.73.

Ormat Technologies (NYSE:ORA) last issued its earnings results on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a net margin of 15.43% and a return on equity of 5.45%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. Equities research analysts anticipate that Ormat Technologies, Inc. will post 2.07 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 21st. Ormat Technologies’s dividend payout ratio (DPR) is presently 21.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. UBS Group lifted their target price on shares of Ormat Technologies from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, TD Cowen increased their price target on shares of Ormat Technologies from $70.00 to $76.00 and gave the company a “hold” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.29.

Insider Buying and Selling at Ormat Technologies

In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the transaction, the director now directly owns 4,835 shares in the company, valued at $323,703.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Ormat Technologies Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.