U.S. natural gas prices upside likely in 2026 - Morgan Stanley
Ormat Technologies Inc (NYSE:ORA). stock reached a 52-week high, hitting 87.35 USD. According to InvestingPro data, this $5.27 billion market cap company has delivered impressive returns, with a 25.4% gain year-to-date. The stock, currently trading at a P/E ratio of 41.6, appears to be trading above its Fair Value based on comprehensive analysis. The company’s strong growth trajectory has been underscored by robust market conditions and strategic initiatives that have resonated well with investors. Notable achievements include maintaining dividend payments for 21 consecutive years, demonstrating financial stability. This upward trend highlights Ormat’s ongoing commitment to expanding its renewable energy footprint, which continues to garner investor confidence and drive the stock to new heights. For deeper insights into Ormat’s valuation and 8 additional key metrics, check out the comprehensive Pro Research Report on InvestingPro.
In other recent news, Ormat Technologies has completed the acquisition of the Blue Mountain geothermal plant for $88 million, increasing its electricity segment generating portfolio to 1,268MW. The company plans to upgrade the facility and add a solar component, aligning with its growth strategy. In a move to bolster its energy projects, Ormat has secured a $62 million Hybrid Tax Equity partnership with Morgan Stanley (NYSE:MS) Renewables, which includes energy storage and solar projects slated for completion by 2025. The partnership is expected to optimize project economics and support the development pipeline.
Additionally, Jefferies has raised its price target for Ormat Technologies to $97, maintaining a Buy rating, citing favorable legislative conditions for geothermal energy. Meanwhile, Barclays (LON:BARC) has upgraded Ormat’s stock rating from Equalweight to Overweight, increasing the price target to $86, due to rising power demand driven by data center expansion. The company is also enhancing its executive team with new appointments aimed at advancing its electricity segment and Enhanced Geothermal System initiatives. These developments underscore Ormat’s strategic efforts to expand its capacity and strengthen its market position.
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