Kayne Anderson Capital Advisors LP Purchases New Shares in Enphase Energy, Inc. (NASDAQ:ENPH)

Kayne Anderson Capital Advisors LP bought a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, HoldingsChannel reports. The fund bought 66,026 shares of the semiconductor company’s stock, valued at approximately $4,535,000.

A number of other institutional investors have also recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. raised its position in Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after purchasing an additional 2,028,691 shares during the last quarter. Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after purchasing an additional 1,258,778 shares during the period. Mizuho Securities USA LLC grew its stake in shares of Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares in the last quarter. Aspex Management HK Ltd acquired a new stake in Enphase Energy during the third quarter worth about $48,442,000. Finally, Montrusco Bolton Investments Inc. lifted its stake in shares of Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after acquiring an additional 424,327 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial reiterated a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. BMO Capital Markets decreased their price target on Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Citigroup increased their price target on shares of Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, Craig Hallum reduced their price target on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Price Performance

Enphase Energy stock opened at $60.83 on Wednesday. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 82.20 and a beta of 2.12. The stock’s 50 day moving average price is $64.15 and its two-hundred day moving average price is $80.39. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. Enphase Energy, Inc. has a 52-week low of $51.63 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts predict that Enphase Energy, Inc. will post 2.08 earnings per share for the current year.

About Enphase Energy

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.