Fidelity Management & Research Co.. recently announced the acquisition of new stake in Enphase Energy Inc. (NASDAQ:ENPH). The institutional investor has increased its shareholding in the Technology company by 40.02% to 10.19 million shares with purchase of 2.91 million shares. This fresh investment now brings its stake to 8.14% valued currently at $614.91 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.5 million to 10.03 million shares. And BlackRock Fund Advisors has lifted its position by 20.45% or 1.35 million shares – to 7.95 million shares.
With over 3.29 million Enphase Energy Inc. (ENPH) shares trading Friday and a closing price of $76.04 on the day, the dollar volume was approximately $249.9 million. The shares have shown a positive weekly performance of 3.96% and its price on 08/28/20 gained nearly 3.54%. Currently, there are 125.60M common shares owned by the public and among those 114.96M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for ENPH have a consensus price objective of $75.93. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $58.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Enphase Energy Inc. stock is 2.30 for the next 12 months. The average price target is -0.14% below its last price level and a downside to the estimated low will see the stock lose -31.1% over that period. But an upside of 23.96% will see the stock hit the forecast high price target while mean target price for the stock is $77.00.
Insiders at the company have transacted a total of 140 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 4,356,331 shares. Insider sales of the common stock occurred on 104 occasions, with total insider shares sold totaling 21,034,772 shares.
The top 3 mutual fund holders in Enphase Energy Inc. are Fidelity Contrafund, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. Fidelity Contrafund owns 4.13 million shares of the company’s stock, all valued at over $249.04 million. The company bought an additional 0.21 million shares recently to bring their total holdings to about 3.30% of the shares outstanding. Vanguard Total Stock Market Index sold 15026.0 shares to see its total holdings shrink to 3.02 million shares valued at over $182.53 million and representing 2.42% of the shares outstanding. Vanguard Small Cap Index Fund sold 22280.0 shares to bring its total holdings to over 2.64 million shares at a value of $159.57 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.11% of the shares outstanding.
Shares of Enphase Energy Inc. (NASDAQ: ENPH) opened at $74.1407, up $0.7 from a prior closing price of $73.44. However, the script later closed the day at $76.04, up 3.54%. The company’s stock has a 5-day price change of 3.96% and 27.41% over the past three months. ENPH shares are trading 191.01% year to date (YTD), with the 12-month market performance up to 144.11% higher. It has a 12-month low price of $17.18 and touched a high of $78.53 over the same period. Currently, 3.29 million shares have been traded, compared to an average intraday trading volume of 5.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.76%, 24.73%, and 73.52% respectively.
Institutional ownership of Enphase Energy Inc. (NASDAQ: ENPH) shares accounts for 72.50% of the company’s 125.60M shares outstanding. Mutual fund holders own 31.22%, while other institutional holders and individual stakeholders account for 40.52% and 18.88% respectively.
It has a market capitalization of $9.25B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 61.77, while the earnings-per-share (ttm) stands at $1.23. The company has a PEG of 1.75 and a Quick Ratio of 3.20 with the debt-to-equity ratio at 0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.79% over the week and 6.03% over the month.
Analysts forecast that Enphase Energy Inc. (ENPH) will achieve an EPS of $0.24 for the current quarter, $0.4 for the next quarter and $1.67 for 2021. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was $0.3 a year ago. Earnings per share for the fiscal year are expected to increase by 27.40%, and 38.14% over the next financial year. EPS should shrink at an annualized rate of 35.38% over the next five years, compared to 53.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Enphase Energy Inc. (ENPH) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 6 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ENPH, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on August 06, 2020, with the firm’s price target at $48-$100. JMP Securities coverage for the Enphase Energy Inc. (ENPH) stock in a research note released on July 24, 2020 offered a Mkt Perform rating with a price target of. Needham was of a view on June 29, 2020 that the stock is Buy, while Johnson Rice gave the stock Buy rating on June 18, 2020, issuing a price target of $68. Goldman on their part issued Neutral rating on May 14, 2020.