Encompass Capital Advisors LLC Makes New $27.23 Million Investment in Enphase Energy, Inc. $ENPH

Encompass Capital Advisors LLC bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 720,288 shares of the semiconductor company’s stock, valued at approximately $27,234,000.

A number of other large investors have also made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Enphase Energy by 431.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after buying an additional 350 shares during the last quarter. Activest Wealth Management boosted its stake in Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,040 shares during the last quarter. Ascentis Independent Advisors acquired a new position in Enphase Energy during the first quarter worth $33,000. Finally, Danske Bank A S purchased a new stake in Enphase Energy in the 3rd quarter valued at $39,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Trading Up 3.6%

ENPH opened at $38.01 on Tuesday. The stock has a market capitalization of $5.01 billion, a PE ratio of 37.63 and a beta of 1.62. 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 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The business’s 50 day moving average price is $51.21 and its 200 day moving average price is $43.79.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.27 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was down 20.6% compared to the same quarter last year. As a group, equities research analysts expect that Enphase Energy, Inc. will post 0.82 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ENPH. Wells Fargo & Company cut their target price on Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. The Goldman Sachs Group boosted their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein assumed coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price objective for the company. Citigroup restated a “neutral” rating on shares of Enphase Energy in a research report on Wednesday, July 22nd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $46.90.

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 completion of the sale, the director directly owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the acquisition, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. This trade represents a 0.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate 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.