Charles Schwab Investment Management Increases Holdings in Ormat Technologies,
November 29, 2023
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Charles Schwab Investment Management Inc. has increased its holdings in Ormat Technologies ($NYSE:ORA), Inc., a leading renewable energy company that focuses on geothermal, recovered energy generation, and energy storage technologies. It operates through four segments: Electricity, Product, Services, and Other. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants. The Product segment designs, manufactures and sells geothermal and recovered energy power units as well as other power generating equipment. The Services segment provides services related to the design, construction, operation and maintenance of geothermal and recovered energy power plants.
Finally, the Other segment provides design, development and manufacturing of equipment for other industries such as water desalination, gas turbine exhaust-heat recovery systems and other products. Ormat’s patented technologies allow them to convert low temperature geothermal resources into electricity more efficiently than traditional methods. Its innovative solutions enable their customers to reduce complexity, reduce cost, and save energy. Ormat is well-positioned to benefit from the global trend towards renewable energy production and the increasing demand for energy storage solutions.
Share Price
Monday saw a minor dip in the stock of ORMAT TECHNOLOGIES, opening at $66.3 and closing at $65.5, a drop of 1.4% from the previous closing price of $66.4. The long-term prospects for ORMAT TECHNOLOGIES still remain bright, despite the minor dip in its stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ormat Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 793.57 | 106.71 | 17.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ormat Technologies. More…
| Operations | Investing | Financing |
| 296.19 | -523.41 | 126.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ormat Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.01k | 2.6k | 37.76 |
Key Ratios Snapshot
Some of the financial key ratios for Ormat Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.4% | -2.9% | 25.2% |
| FCF Margin | ROE | ROA |
| -34.1% | 5.5% | 2.5% |
Analysis
GoodWhale has analyzed the financials of ORMAT TECHNOLOGIES and we have classified them as a ‘cow’ – a type of company that has the track record of paying out consistent and sustainable dividends. These companies are likely to be of interest to investors looking for steady returns in their portfolios. After conducting a detailed analysis, we have concluded that ORMAT TECHNOLOGIES is strong in dividend, medium in asset, profitability and weak in growth. Furthermore, it has an intermediate health score of 5/10 with regard to its cashflows and debt, so we believe that ORMAT TECHNOLOGIES is likely to sustain future operations in times of crisis. More…
Peers
It operates in more than 30 countries and has a strong presence in the US, Europe, and Asia. The company has a diversified portfolio of renewable energy assets and is constantly innovating to stay ahead of its competitors. Some of its major competitors are EDP Renovaveis SA, Northland Power Inc, and Atlantica Sustainable Infrastructure PLC.
– EDP Renovaveis SA ($LTS:0ML1)
EDP Renovaveis SA is a leading renewable energy company in Europe. The company has a market cap of 19.36B as of 2022 and a ROE of 10.17%. The company has a strong presence in the wind and solar energy markets and is one of the largest renewable energy companies in the world. The company has a strong focus on renewable energy and is committed to providing clean, sustainable energy for the future.
– Northland Power Inc ($TSX:NPI)
Northland Power Inc is a Canadian power producer that owns and operates a diversified portfolio of power-generating facilities. The company has a market capitalization of 8.84 billion as of 2022 and a return on equity of 23.88%. Northland Power’s power-generating facilities are located in Canada, the United States, and Germany. The company’s primary business is the generation and sale of electricity to utilities and other large customers.
– Atlantica Sustainable Infrastructure PLC ($NASDAQ:AY)
As of 2022, Atlantica Sustainable Infrastructure PLC has a market cap of 2.93B and a ROE of 10.83%. The company is involved in the development, acquisition, and operation of sustainable infrastructure projects, including solar, wind, and water assets.
Summary
Charles Schwab Investment Management Inc. recently increased its holdings in Ormat Technologies, Inc. This is an indication that the company’s financial prospects are strong. Analysts are optimistic that Ormat Technologies is well-positioned to benefit from the growing demand for renewable energy solutions. The company has a wide range of offerings, including geothermal, solar and waste heat recovery solutions, that have enabled it to become a leader in the energy industry. Analysts believe that the stock has potential for long-term growth, and investors should look towards Ormat Technologies as one of the top picks in the sector.
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