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

Kayne Anderson Capital Advisors LP acquired a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,026 shares of the semiconductor company’s stock, valued at approximately $4,535,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENPH. Swedbank AB increased its position in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Enphase Energy by 19.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock worth $123,000 after acquiring an additional 174 shares during the period. Impax Asset Management Group plc grew its position in Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after acquiring an additional 31,008 shares during the period. Sigma Planning Corp purchased a new stake in shares of Enphase Energy in the 3rd quarter valued at approximately $210,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Enphase Energy by 5.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock valued at $354,000 after acquiring an additional 153 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enphase Energy

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

Enphase Energy Stock Performance

Shares of ENPH stock opened at $60.83 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 82.20 and a beta of 2.12. The company’s 50 day moving average is $64.15 and its 200 day moving average is $80.39. Enphase Energy, Inc. has a 52-week low of $51.63 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

ENPH has been the topic of several recent analyst reports. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. TD Cowen reduced their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Piper Sandler dropped their price target on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group lowered their target price on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Glj Research reissued a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $90.42.

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.