Vanguard Group Inc. Grows Position in Enlight Renewable Energy Ltd. $ENLT

Vanguard Group Inc. raised its stake in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,447,614 shares of the company’s stock after acquiring an additional 70,338 shares during the quarter. Vanguard Group Inc.’s holdings in Enlight Renewable Energy were worth $136,800,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ENLT. BNP Paribas Financial Markets raised its stake in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company’s stock valued at $28,000 after purchasing an additional 881 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Enlight Renewable Energy by 6.4% during the second quarter. Bank of Montreal Can now owns 11,021 shares of the company’s stock worth $251,000 after buying an additional 660 shares in the last quarter. Jane Street Group LLC raised its position in shares of Enlight Renewable Energy by 6.0% in the second quarter. Jane Street Group LLC now owns 11,366 shares of the company’s stock valued at $258,000 after buying an additional 641 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Enlight Renewable Energy by 18.8% during the second quarter. Tidal Investments LLC now owns 15,943 shares of the company’s stock valued at $362,000 after buying an additional 2,527 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in Enlight Renewable Energy during the second quarter worth approximately $597,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

NASDAQ:ENLT opened at $72.48 on Wednesday. Enlight Renewable Energy Ltd. has a twelve month low of $14.01 and a twelve month high of $81.28. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.88 and a current ratio of 0.67. The firm’s fifty day simple moving average is $57.67 and its 200 day simple moving average is $42.24.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Tuesday, February 17th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.17. The company had revenue of $124.19 million during the quarter, compared to the consensus estimate of $146.12 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%. As a group, research analysts expect that Enlight Renewable Energy Ltd. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ENLT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $38.00 price target on shares of Enlight Renewable Energy in a report on Wednesday, January 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $35.00 target price on shares of Enlight Renewable Energy in a research report on Monday, December 8th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note on Monday, February 23rd. Roth Mkm increased their price objective on shares of Enlight Renewable Energy from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Barclays reissued an “overweight” rating on shares of Enlight Renewable Energy in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.50.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.