Louis Navellier Increases Exposure to These Five Utilities Stocks

#4. Ormat Technologies Inc. (NYSE:ORA)

– Shares Owned by Navellier & Associates (as of June 30): 34,031

– Value of Navellier & Associates’ Holding (as of June 30): $1.49 Million

The Nevada-based hedge fund firm added 19,315 shares of Ormat Technologies Inc. (NYSE:ORA) to its existing position in the company during the three-month period ending June 30, finishing the quarter with 34,031 shares. The increased position was valued at $1.49 million at the end of June and accounted for a mere 0.2% of the hedge fund’s entire portfolio. The shares of the Nevada-based company engaged in the geothermal and recovered energy power business have advanced 31% since the start of the year. In July, the company closed its previously-announced acquisition of Geothermie Biullante SA, which owns and operates a geothermal power plant located in Guadeloupe Island, a French territory in the Caribbean. Ormat Technologies recorded total revenues of $159.86 million for the three months that ended June 30, up from $140.49 million posted a year ago. Bernard Lambilliotte’s Ecofin Ltd reported owning nearly 31,000 shares of Ormat Technologies Inc. (NYSE:ORA) in its 13F filing for the June quarter.

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#3. NiSource Inc. (NYSE:NI)

– Shares Owned by Navellier & Associates (as of June 30): 159,304

– Value of Navellier & Associates’ Holding (as of June 30): $4.23 Million

The asset manager overseen by well-known money manager Louis G. Navellier increased its exposure to NiSource Inc. (NYSE:NI) by 46% during the April-to-June period to 159,304 shares. The reshuffled position was worth $4.23 million on June 30 and made up 0.6% of the investment firm’s overall portfolio. The energy holding company that operates fully-regulated natural gas and electric utility companies serving customers in seven states has seen the value of its shares gain 27% since the start of the year. NiSource’s consolidated net revenues, which represent gross revenues less cost of sales, were $662.7 million for the second quarter, up $28.1 million from the same period of the prior year. The increase partially reflects the company’s increased capital spend on electric transmission projects and environmental investments. NiSource’s net revenues also increased by $6.1 million due to the impact of colder weather, which boosted net revenues from the gas distribution operations segment. Israel Englander’s Millennium Management was the owner of 4.48 million shares of NiSource Inc. (NYSE:NI) at the end of the first quarter.

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