Ormat Technologies, Inc. (ORA) To Go Ex-Dividend on November 19th

Ormat Technologies, Inc. (NYSE:ORA) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 0.11 per share by the energy company on Wednesday, December 4th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, November 19th.

Shares of NYSE:ORA traded up $0.48 on Friday, reaching $76.45. The company had a trading volume of 79,062 shares, compared to its average volume of 201,024. Ormat Technologies has a 52-week low of $49.70 and a 52-week high of $79.18. The firm’s 50 day simple moving average is $75.28 and its 200-day simple moving average is $67.81. The firm has a market capitalization of $3.87 billion, a PE ratio of 36.75, a PEG ratio of 3.91 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70.

Ormat Technologies (NYSE:ORA) last announced its quarterly earnings results on Wednesday, November 6th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The company had revenue of $170.50 million during the quarter, compared to analysts’ expectations of $171.11 million. Ormat Technologies had a net margin of 12.59% and a return on equity of 6.00%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. As a group, equities research analysts predict that Ormat Technologies will post 1.77 earnings per share for the current year.

ORA has been the subject of a number of recent analyst reports. ValuEngine cut Ormat Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group raised their price objective on Ormat Technologies from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Roth Capital cut Ormat Technologies from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Monday, November 11th. They noted that the move was a valuation call. Cowen cut Ormat Technologies from an “outperform” rating to a “market perform” rating and set a $76.00 price objective for the company. in a research report on Thursday, October 24th. Finally, Zacks Investment Research raised Ormat Technologies from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $73.40.

In other Ormat Technologies news, EVP Bob Sullivan sold 13,212 shares of Ormat Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $72.48, for a total transaction of $957,605.76. Following the completion of the sale, the executive vice president now owns 18,478 shares of the company’s stock, valued at approximately $1,339,285.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Roberts Christopher purchased 100,000 shares of the stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $3.08 per share, with a total value of $308,000.00. Insiders sold a total of 28,212 shares of company stock valued at $2,052,726 in the last three months. Insiders own 0.63% of the company’s stock.

Ormat Technologies Company Profile

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

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Dividend History for Ormat Technologies (NYSE:ORA)

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