Jupiter Topco LLC Makes New $2.98 Million Investment in Ormat Technologies, Inc. $ORA

Jupiter Topco LLC acquired a new position in Ormat Technologies, Inc. (NYSE:ORA) in the second quarter, Holdings Channel.com reports. The firm acquired 27,333 shares of the energy company’s stock, valued at approximately $2,979,000.

Several other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG bought a new position in Ormat Technologies during the second quarter valued at approximately $42,015,000. Legato Capital Management LLC purchased a new position in shares of Ormat Technologies during the fourth quarter worth approximately $1,319,000. Trillium Asset Management LLC purchased a new position in shares of Ormat Technologies during the second quarter worth approximately $16,106,000. Nicholas Investment Partners LP bought a new stake in shares of Ormat Technologies in the 4th quarter worth approximately $4,835,000. Finally, BlackRock Inc. bought a new stake in shares of Ormat Technologies in the 2nd quarter worth approximately $896,374,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ORA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ormat Technologies in a report on Friday, July 17th. Oppenheimer lowered their price target on shares of Ormat Technologies from $144.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Roth Capital reissued a “buy” rating and issued a $135.00 price target on shares of Ormat Technologies in a research note on Monday, May 11th. Piper Sandler upped their price target on shares of Ormat Technologies from $125.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Wolfe Research initiated coverage on Ormat Technologies in a research note on Monday, June 8th. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.83.

Ormat Technologies Stock Performance

Shares of ORA stock opened at $104.69 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.00 and a current ratio of 1.05. Ormat Technologies, Inc. has a fifty-two week low of $89.70 and a fifty-two week high of $146.39. The stock has a 50 day moving average price of $107.01 and a two-hundred day moving average price of $115.53. The company has a market capitalization of $6.44 billion, a P/E ratio of 51.57, a PEG ratio of 4.34 and a beta of 0.90.

Ormat Technologies (NYSE:ORA) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.24. Ormat Technologies had a return on equity of 6.61% and a net margin of 10.66%.The firm had revenue of $258.76 million during the quarter, compared to analyst estimates of $240.03 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts expect that Ormat Technologies, Inc. will post 2.47 earnings per share for the current year.

Ormat Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.48 annualized dividend and a yield of 0.5%. Ormat Technologies’s dividend payout ratio is presently 23.65%.

Ormat Technologies Company Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.