Palo Duro Investment Partners LP Acquires Shares of 663,389 Enphase Energy, Inc. $ENPH

Key Points

• Palo Duro Investment Partners acquired 663,389 Enphase Energy shares worth approximately $32.7 million, giving the position a 6.3% portfolio weighting and representing 0.5% of Enphase’s outstanding stock.
• Institutional ownership remains substantial at 72.12%, with several major investors—including Handelsbanken Fonder and Invesco—recently increasing their holdings or initiating new positions.
• Enphase reported quarterly EPS of $0.46, slightly below estimates, while revenue of $291.85 million exceeded forecasts but fell 19.6% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $45.79.

Palo Duro Investment Partners LP bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 663,389 shares of the semiconductor company's stock, valued at approximately $32,665,000. Enphase Energy makes up approximately 6.3% of Palo Duro Investment Partners LP's portfolio, making the stock its 8th biggest position. Palo Duro Investment Partners LP owned 0.50% of Enphase Energy as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Enphase Energy in the fourth quarter valued at approximately $118,190,000. Handelsbanken Fonder AB lifted its holdings in Enphase Energy by 154.9% during the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company's stock valued at $103,953,000 after purchasing an additional 1,283,052 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Enphase Energy during the 2nd quarter worth about $43,921,000. Invesco Ltd. lifted its stake in Enphase Energy by 36.2% in the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock valued at $101,244,000 after buying an additional 839,468 shares in the last quarter. Finally, Sora Investors LLC purchased a new stake in Enphase Energy during the 4th quarter worth approximately $25,998,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Trading Up 2.9%

ENPH opened at $38.42 on Thursday. The stock has a market capitalization of $5.08 billion, a PE ratio of 38.42 and a beta of 1.64. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The business's 50 day moving average price is $42.07 and its 200 day moving average price is $43.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $291.85 million for the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.Enphase Energy's revenue was down 19.6% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. As a group, equities research analysts expect that Enphase Energy, Inc. will post 0.76 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings raised Enphase Energy from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Enphase Energy from $39.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They set a "market perform" rating and a $56.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Enphase Energy from $41.00 to $64.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Finally, Evercore reaffirmed a "positive" rating and issued a $41.00 price target on shares of Enphase Energy in a report on Monday, August 17th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.79.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 2,000 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00. Following the transaction, the director directly owned 11,922 shares in the company, valued at $438,252.72. This represents a 14.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shanker Trivedi purchased 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $53,910. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 4,200 shares of company stock worth $179,000. Company insiders own 2.90% of the company's stock.

Enphase Energy Company Profile

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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