JPMorgan Chase & Co. Lowers Position in Enlight Renewable Energy Ltd. $ENLT

Key Points

• JPMorgan Chase cut its stake in Enlight Renewable Energy by 82.7% in Q3, selling 62,643 shares and leaving it with 13,092 shares worth about $408,000.
• Enlight reported quarterly EPS of $0.10, beating estimates by $0.17 while revenue of $124.19M missed expectations, and analysts' consensus rating is "Hold" with an average price target of $48.00.
• The stock trades near its 12‑month high (opened at $80.99; high $81.28), has a market cap of $9.6B and a P/E of 79.4, and institutional investors own roughly 38.9% of the shares.

JPMorgan Chase & Co. decreased its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 82.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,092 shares of the company's stock after selling 62,643 shares during the period. JPMorgan Chase & Co.'s holdings in Enlight Renewable Energy were worth $408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mariner LLC boosted its holdings in shares of Enlight Renewable Energy by 4.1% in the third quarter. Mariner LLC now owns 10,070 shares of the company's stock valued at $314,000 after acquiring an additional 396 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Enlight Renewable Energy by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company's stock valued at $1,409,000 after acquiring an additional 472 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock valued at $258,000 after acquiring an additional 641 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Enlight Renewable Energy by 0.7% in the second quarter. Geode Capital Management LLC now owns 108,157 shares of the company's stock valued at $2,458,000 after acquiring an additional 773 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after acquiring an additional 881 shares in the last quarter. Hedge funds and other institutional investors own 38.89% of the company's stock.

Enlight Renewable Energy Stock Performance

Shares of ENLT opened at $80.99 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.03. The stock has a market cap of $9.60 billion, a P/E ratio of 79.40, a PEG ratio of 10.17 and a beta of 1.21. The company has a 50-day moving average of $70.16 and a two-hundred day moving average of $51.57. Enlight Renewable Energy Ltd. has a 12-month low of $15.00 and a 12-month high of $81.28.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.17. The company had revenue of $124.19 million during the quarter, compared to analysts' expectations of $146.12 million. Enlight Renewable Energy had a net margin of 22.69% and a return on equity of 7.35%. As a group, research analysts predict that Enlight Renewable Energy Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENLT has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Enlight Renewable Energy to $65.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a "hold" rating in a research note on Thursday, April 9th. Finally, Mizuho set a $37.00 price objective on shares of Enlight Renewable Energy in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enlight Renewable Energy presently has an average rating of "Hold" and a consensus price target of $48.00.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

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