Palo Duro Investment Partners LP Buys New Holdings in Enphase Energy, Inc. $ENPH

Palo Duro Investment Partners LP purchased a new position in Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 663,389 shares of the semiconductor company’s stock, valued at approximately $32,665,000. Enphase Energy comprises about 6.3% of Palo Duro Investment Partners LP’s portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of ENPH. Vanguard Group Inc. raised its stake in Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares in the last quarter. Norges Bank purchased a new stake in Enphase Energy in the fourth quarter valued at $118,190,000. Invesco Ltd. boosted its stake in Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after acquiring an additional 839,468 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after purchasing an additional 11,220 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Enphase Energy by 154.9% during the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENPH has been the subject of several research reports. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $30.00 to $51.00 in a report on Thursday, June 18th. Mizuho dropped their price target on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings raised Enphase Energy from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Oppenheimer reduced their price objective on Enphase Energy from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group increased their price objective on Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a report on Friday, June 12th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.79.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the transaction, the director owned 10,422 shares in the company, valued at $420,631.92. The trade was a 12.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,200 shares of company stock valued at $179,000. 2.90% of the stock is owned by insiders.

Enphase Energy Stock Performance

Shares of ENPH opened at $38.42 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. The stock has a market capitalization of $5.08 billion, a P/E ratio of 38.42 and a beta of 1.64. The company’s fifty day moving average is $42.07 and its two-hundred day moving average is $43.94. Enphase Energy, Inc. has a 1 year low of $25.77 and a 1 year high of $73.74.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The firm’s revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, sell-side analysts predict that Enphase Energy, Inc. will post 0.76 earnings per share for the current year.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.