Everence Capital Management Inc. Makes New Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

Everence Capital Management Inc. acquired a new stake in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,850 shares of the semiconductor company’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after buying an additional 58,040 shares during the period. Swedbank AB grew its position in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares during the last quarter. Geode Capital Management LLC increased its stake in Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Trading Up 1.1 %

Shares of NASDAQ ENPH opened at $72.15 on Monday. The firm’s 50 day moving average price is $71.85 and its 200-day moving average price is $95.36. Enphase Energy, Inc. has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market cap of $9.75 billion, a PE ratio of 163.98, a P/E/G ratio of 22.03 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, equities research analysts expect that Enphase Energy, Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

ENPH has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “hold” rating and set a $76.00 price target on shares of Enphase Energy in a report on Tuesday, November 19th. Morgan Stanley dropped their target price on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Evercore ISI reduced their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a report on Wednesday, October 23rd. Finally, Citigroup reduced their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average price target of $100.33.

Enphase Energy 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.