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

Ormat Technologies, Inc. (NYSE:ORAGet Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Wednesday, May 22nd will be given a dividend of 0.12 per share by the energy company on Wednesday, June 5th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, May 21st.

Ormat Technologies has increased its dividend by an average of 2.9% annually over the last three years. Ormat Technologies has a dividend payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Ormat Technologies to earn $2.42 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 19.8%.

Ormat Technologies Trading Up 0.0 %

Ormat Technologies stock opened at $72.49 on Friday. The business has a 50 day moving average price of $65.88 and a two-hundred day moving average price of $67.32. 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 has a 12 month low of $58.73 and a 12 month high of $88.26. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 3.51 and a beta of 0.48.

Ormat Technologies (NYSE:ORAGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.71 million. Ormat Technologies had a return on equity of 5.45% and a net margin of 15.43%. Ormat Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. As a group, equities analysts forecast that Ormat Technologies will post 2.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ORA. UBS Group increased their price objective on shares of Ormat Technologies from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. TD Cowen increased their price target on shares of Ormat Technologies from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Barclays decreased their price objective on Ormat Technologies from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ormat Technologies currently has an average rating of “Hold” and a consensus target price of $84.29.

Check Out Our Latest Stock Report on Ormat Technologies

Insider Activity at Ormat Technologies

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

About Ormat Technologies

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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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Dividend History for Ormat Technologies (NYSE:ORA)

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