Ormat Technologies, Inc. (ORA) To Go Ex-Dividend on November 20th

by · The Markets Daily

Ormat Technologies, Inc. (NYSE:ORA – Get Free Report) announced a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.12 per share by the energy company on Wednesday, December 4th. This represents a $0.48 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, November 20th.

Ormat Technologies has raised its dividend by an average of 2.9% annually over the last three years. Ormat Technologies has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ormat Technologies to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 20.3%.

Ormat Technologies Stock Up 1.4 %

Shares of ORA opened at $83.06 on Friday. The company has a market capitalization of $5.02 billion, a P/E ratio of 37.93, a PEG ratio of 4.22 and a beta of 0.53. Ormat Technologies has a one year low of $58.73 and a one year high of $83.85. The business’s 50 day simple moving average is $76.79 and its 200-day simple moving average is $73.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.89.

Ormat Technologies (NYSE:ORA – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $212.96 million during the quarter, compared to the consensus estimate of $214.07 million. Ormat Technologies had a return on equity of 5.40% and a net margin of 14.89%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, sell-side analysts predict that Ormat Technologies will post 1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ORA shares. Oppenheimer upped their price target on shares of Ormat Technologies from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Ormat Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm restated a “buy” rating and issued a $80.00 price objective on shares of Ormat Technologies in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.67.

Check Out Our Latest Stock Analysis on Ormat Technologies

Insider Buying and Selling at Ormat Technologies

In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.98, for a total transaction of $94,924.68. Following the completion of the transaction, the director now directly owns 6,906 shares in the company, valued at approximately $517,811.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Byron G. Wong sold 1,266 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.98, for a total value of $94,924.68. Following the completion of the transaction, the director now owns 6,906 shares of the company’s stock, valued at $517,811.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dafna Sharir sold 433 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.91, for a total value of $32,436.03. Following the sale, the director now directly owns 3,561 shares in the company, valued at $266,754.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Ormat Technologies Company Profile

(Get Free Report)

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.

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