10 Best Performing Utilities Stocks to Buy Now

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7. Ormat Technologies, Inc. (NYSE:ORA)

Year-To-Date Performance as of August 22: 40.06%

Number of Hedge Fund Holders: 27

Ormat Technologies, Inc. (NYSE:ORA) ranks among the best performing utilities stocks to buy now. On August 19, Piper Sandler maintained its Neutral rating on Ormat Technologies, Inc. (NYSE:ORA) while increasing its price target to $90 from $78. The upgrade reflects an improved regulatory environment and the increasing demand for baseload power generation related to AI.

Piper Sandler cited a de-risked project pipeline as justification for altering the development company discount rate from 13.5% to 10% in its valuation model. The firm also raised its Product OpCo TTM EV/EBITDA multiple to 7x and its Electricity/Energy Storage multiple to 12.75x.

The firm further stated that legislative backing and the ongoing high demand from the artificial intelligence industry have caused Ormat’s EV/EBITDA for 2026 to double to 12.5x, reaching levels last seen in 2022.

Ormat Technologies, Inc. (NYSE:ORA) is a leading geothermal company that develops, produces, and offers sustainable energy solutions.

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