Creative Planning Acquires 5,379 Shares of Enphase Energy, Inc. (NASDAQ:ENPH)

Creative Planning raised its holdings in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 49.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,204 shares of the semiconductor company’s stock after purchasing an additional 5,379 shares during the quarter. Creative Planning’s holdings in Enphase Energy were worth $1,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENPH. Swedbank AB bought a new stake in Enphase Energy during the 1st quarter valued at $424,130,000. Baillie Gifford & Co. increased its stake 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 valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC increased its stake in Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP purchased a new position in Enphase Energy during the 2nd quarter worth $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new position in Enphase Energy during the 1st quarter worth $59,128,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 1.0 %

ENPH stock opened at $84.68 on Tuesday. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $107.74 and its 200 day moving average is $111.41. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company 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 10.57% and a net margin of 4.91%. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Sell-side analysts predict that Enphase Energy, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ENPH shares. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a report on Wednesday, October 23rd. BMO Capital Markets cut their price objective on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.26.

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.