Vanguard Group Inc. Acquires 503,060 Shares of Enlight Renewable Energy Ltd. $ENLT

Key Points

• Vanguard Group Inc. increased its stake in Enlight Renewable Energy by 11.3% in the fourth quarter, buying 503,060 additional shares and bringing its total holding to 4.95 million shares worth about $225.1 million.
• The stock was up 6.4%, opening at $90.51, near its 52-week high of $93.85. The company now has a market cap of $10.73 billion and trades well above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the consensus rating is Hold with an average price target of $60.17, even as UBS raised its target to $105 and gave the stock a Buy rating. Enlight recently reported quarterly EPS of $0.16 on revenue of $156.49 million.

Vanguard Group Inc. boosted its holdings in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 11.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,950,674 shares of the company's stock after purchasing an additional 503,060 shares during the quarter. Vanguard Group Inc.'s holdings in Enlight Renewable Energy were worth $225,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Enlight Renewable Energy by 26.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,621 shares of the company's stock worth $2,618,000 after purchasing an additional 11,994 shares during the period. V Square Quantitative Management LLC bought a new position in Enlight Renewable Energy in the 4th quarter worth approximately $56,000. Y.D. More Investments Ltd boosted its holdings in shares of Enlight Renewable Energy by 4.5% during the 4th quarter. Y.D. More Investments Ltd now owns 5,837,263 shares of the company's stock valued at $264,965,000 after purchasing an additional 252,446 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Enlight Renewable Energy by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company's stock valued at $1,409,000 after purchasing an additional 472 shares during the last quarter. Finally, Mariner LLC boosted its holdings in shares of Enlight Renewable Energy by 4.1% during the 3rd quarter. Mariner LLC now owns 10,070 shares of the company's stock valued at $314,000 after purchasing an additional 396 shares during the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Stock Up 6.4%

Shares of ENLT opened at $90.51 on Friday. The company has a market cap of $10.73 billion, a PE ratio of 210.49, a P/E/G ratio of 22.72 and a beta of 1.51. The business has a fifty day moving average of $76.36 and a 200 day moving average of $57.22. Enlight Renewable Energy Ltd. has a 52-week low of $16.87 and a 52-week high of $93.85. The company has a quick ratio of 0.67, a current ratio of 0.77 and a debt-to-equity ratio of 1.68.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. On average, sell-side analysts expect that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

ENLT has been the subject of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Enlight Renewable Energy in a report on Friday, March 27th. UBS Group increased their price objective on shares of Enlight Renewable Energy from $93.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a "hold" rating in a report on Thursday, April 9th. Finally, Barclays reiterated an "overweight" rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Enlight Renewable Energy presently has a consensus rating of "Hold" and an average target price of $60.17.

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.

Want to see what other hedge funds are holding ENLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.