Oppenheimer & Co. Inc. Grows Stock Position in Enphase Energy, Inc. (NASDAQ:ENPH)

Oppenheimer & Co. Inc. grew its position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,783 shares of the semiconductor company’s stock after buying an additional 496 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enphase Energy were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new stake in Enphase Energy during the 1st quarter valued at $424,130,000. Baillie Gifford & Co. lifted its holdings in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its stake 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 worth $118,028,000 after purchasing an additional 1,078,154 shares during the period. Anomaly Capital Management LP purchased a new position in Enphase Energy during the 2nd quarter valued at about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new position in Enphase Energy during the 1st quarter valued at about $59,128,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Enphase Energy stock opened at $61.36 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm has a market cap of $8.29 billion, a P/E ratio of 139.45, a P/E/G ratio of 18.32 and a beta of 1.77. Enphase Energy, Inc. has a 1-year low of $58.33 and a 1-year high of $141.63. The firm has a 50-day moving average of $93.59 and a 200-day moving average of $107.09.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. Sell-side analysts expect that Enphase Energy, Inc. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ENPH. Barclays cut their price objective on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Evercore ISI decreased their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Northland Securities dropped their price target on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.09.

Enphase Energy Company 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.