Encompass Capital Advisors LLC Invests $27.23 Million in Enphase Energy, Inc. $ENPH

Key Points

• Encompass Capital Advisors acquired 720,288 Enphase Energy shares worth approximately $27.23 million, representing a 0.55% stake. Institutional investors collectively own 72.12% of the company.
• Enphase reported quarterly EPS of $0.47, exceeding analyst expectations of $0.43, while revenue reached $282.9 million. However, revenue declined 20.6% year over year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $46.90; the stock recently opened at $38.01, below its 50-day moving average of $51.21.

Encompass Capital Advisors LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 720,288 shares of the semiconductor company's stock, valued at approximately $27,234,000. Encompass Capital Advisors LLC owned 0.55% of Enphase Energy as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Monaco Asset Management SAM acquired a new stake in shares of Enphase Energy during the 4th quarter worth approximately $2,724,000. Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock valued at $523,365,000 after purchasing an additional 246,876 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Enphase Energy in the 1st quarter valued at $2,193,000. M&T Bank Corp lifted its stake in shares of Enphase Energy by 319.6% in the 4th quarter. M&T Bank Corp now owns 72,941 shares of the semiconductor company's stock valued at $2,338,000 after purchasing an additional 55,557 shares during the period. Finally, Swedbank AB boosted its holdings in Enphase Energy by 11.3% during the fourth quarter. Swedbank AB now owns 584,898 shares of the semiconductor company's stock worth $18,746,000 after buying an additional 59,500 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of Enphase Energy stock opened at $38.01 on Tuesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of 37.63 and a beta of 1.62. The business has a 50 day simple moving average of $51.21 and a two-hundred day simple moving average of $43.79. Enphase Energy, Inc. has a 12 month low of $25.77 and a 12 month high of $73.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.27 million. During the same period in the previous year, the company posted $0.68 earnings per share. The business's revenue was down 20.6% on a year-over-year basis. As a group, analysts predict that Enphase Energy, Inc. will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore set a $37.00 price target on shares of Enphase Energy in a research report on Monday, May 4th. Sanford C. Bernstein began coverage on shares of Enphase Energy in a research report on Tuesday, June 16th. They issued a "market perform" rating and a $56.00 price objective for the company. Roth Capital reissued a "buy" rating on shares of Enphase Energy in a research note on Friday, May 22nd. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. cut their price target on Enphase Energy from $39.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.90.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 700 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director owned 13,922 shares in the company, valued at approximately $893,792.40. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is owned by corporate insiders.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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