Enphase Energy, Inc. (NASDAQ:ENPH) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 109.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 437 shares of the semiconductor company’s stock after purchasing an additional 228 shares during the quarter. Blue Trust Inc.’s holdings in Enphase Energy were worth $49,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENPH. Swedbank AB acquired a new stake in shares of Enphase Energy in the 1st quarter worth $424,130,000. Baillie Gifford & Co. lifted its position in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Electron Capital Partners LLC boosted its holdings in Enphase Energy by 1,021.4% in the 2nd 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 in the last quarter. Anomaly Capital Management LP acquired a new position in Enphase Energy during the 2nd quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy during the 1st quarter worth approximately $59,128,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Enphase Energy stock opened at $83.04 on Friday. Enphase Energy, Inc. has a 12-month low of $73.49 and a 12-month high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 188.73, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72. The firm’s fifty day moving average price is $106.33 and its 200 day moving average price is $110.97.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The firm’s revenue was down 30.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. On average, research analysts forecast that Enphase Energy, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays decreased their price target on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America upped their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Craig Hallum reduced their price objective on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. TD Cowen lowered their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Evercore ISI reduced their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $111.26.

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.