Electron Capital Partners LLC Takes $18.48 Million Position in Enphase Energy, Inc. $ENPH

Electron Capital Partners LLC bought a new stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 488,852 shares of the semiconductor company’s stock, valued at approximately $18,483,000. Electron Capital Partners LLC owned about 0.37% of Enphase Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Encompass Capital Advisors LLC purchased a new position in shares of Enphase Energy during the 1st quarter worth about $27,234,000. Quantinno Capital Management LP boosted its position in shares of Enphase Energy by 157.4% during the first quarter. Quantinno Capital Management LP now owns 110,747 shares of the semiconductor company’s stock valued at $4,187,000 after buying an additional 67,721 shares during the period. SummitTX Capital L.P. bought a new position in shares of Enphase Energy during the first quarter valued at approximately $2,965,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $255,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Enphase Energy by 27.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 590,282 shares of the semiconductor company’s stock worth $22,319,000 after buying an additional 128,283 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Richard Mora sold 700 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $64.20, for a total transaction of $44,940.00. Following the sale, the director directly owned 13,922 shares of the company’s stock, valued at $893,792.40. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shanker Trivedi purchased 1,000 shares of Enphase Energy stock in a transaction that occurred on Friday, June 12th. The shares were bought 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 $53,910. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

ENPH has been the topic of a number of recent analyst reports. Susquehanna increased their target price on Enphase Energy from $32.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Oppenheimer lowered their target price on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Finally, Barclays upgraded shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $30.00 to $51.00 in a research note on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.90.

Enphase Energy Trading Up 3.6%

NASDAQ:ENPH opened at $38.01 on Tuesday. The firm has a 50-day simple moving average of $51.21 and a 200-day simple moving average of $43.79. Enphase Energy, Inc. has a one year low of $25.77 and a one year high of $73.74. The firm has a market cap of $5.01 billion, a P/E ratio of 37.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $282.90 million for the quarter, compared to analyst estimates of $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. Enphase Energy’s revenue was down 20.6% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. Equities analysts anticipate that Enphase Energy, Inc. will post 0.82 EPS for the current fiscal year.

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.