Kayne Anderson Capital Advisors LP Cuts Holdings in Enphase Energy, Inc. (NASDAQ:ENPH)

Kayne Anderson Capital Advisors LP cut its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,747 shares of the semiconductor company's stock after selling 14,279 shares during the period. Kayne Anderson Capital Advisors LP's holdings in Enphase Energy were worth $3,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional bought a new position in shares of Enphase Energy in the 1st quarter worth $29,000. First Horizon Advisors Inc. grew its stake in Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Enphase Energy during the 4th quarter valued at about $47,000. GeoWealth Management LLC boosted its stake in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company's stock worth $61,000 after buying an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new stake in shares of Enphase Energy in the fourth quarter worth about $69,000. 72.12% of the stock is owned by institutional investors.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction on Friday, April 25th. The shares were bought at an average price of $46.35 per share, with a total value of $185,400.00. Following the purchase, the chief executive officer directly owned 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENPH shares. Jefferies Financial Group reduced their price target on Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Enphase Energy from $49.00 to $42.00 and set a "hold" rating for the company in a report on Thursday. Canaccord Genuity Group cut their price target on Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. Finally, BMO Capital Markets restated an "underperform" rating and set a $39.00 price target (down from $46.00) on shares of Enphase Energy in a research report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of "Hold" and an average price target of $58.57.

Enphase Energy Stock Performance

ENPH stock traded down $1.19 during trading on Thursday, hitting $35.29. The company had a trading volume of 5,962,220 shares, compared to its average volume of 6,375,704. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $41.54 and a 200-day moving average price of $52.71. The firm has a market cap of $4.63 billion, a PE ratio of 27.58 and a beta of 1.67. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.70% and a net margin of 11.78%. The company's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts expect that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.