Ormat Technologies, Inc. (NYSE:ORA) Announces Quarterly Dividend of $0.12

Ormat Technologies, Inc. (NYSE:ORA) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Wednesday, May 20th will be paid a dividend of 0.12 per share by the energy company on Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, May 20th.

Ormat Technologies has increased its dividend by an average of 0.0%per year over the last three years. Ormat Technologies has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Ormat Technologies to earn $2.53 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 19.0%.

Ormat Technologies Stock Down 0.1%

ORA stock opened at $115.19 on Thursday. The company’s 50 day moving average price is $111.12 and its 200 day moving average price is $113.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.75 and a current ratio of 0.81. Ormat Technologies has a fifty-two week low of $70.42 and a fifty-two week high of $132.58. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 57.31, a PEG ratio of 5.05 and a beta of 0.80.

Ormat Technologies (NYSE:ORA) last released its earnings results on Wednesday, May 6th. The energy company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.38. The firm had revenue of $403.91 million for the quarter, compared to analyst estimates of $349.17 million. Ormat Technologies had a net margin of 12.52% and a return on equity of 5.21%. The business’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts anticipate that Ormat Technologies will post 2.28 EPS for the current fiscal year.

Analyst Ratings Changes

ORA has been the topic of several recent analyst reports. Oppenheimer increased their price target on shares of Ormat Technologies from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. UBS Group reduced their price objective on Ormat Technologies from $148.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. cut their target price on shares of Ormat Technologies from $108.00 to $106.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. TD Cowen cut their target price on shares of Ormat Technologies from $131.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Barclays lifted their price objective on shares of Ormat Technologies from $108.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.64.

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.