Enphase Energy (NASDAQ:ENPH) PT Lowered to $114.00 at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities research analysts at BMO Capital Markets from $115.00 to $114.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 6.22% from the company’s current price.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Roth Mkm reiterated a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research report on Monday, June 10th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $128.86.

Enphase Energy Stock Performance

NASDAQ:ENPH traded down $3.88 during trading hours on Wednesday, reaching $107.32. 1,496,786 shares of the stock were exchanged, compared to its average volume of 3,757,865. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a 50 day simple moving average of $113.60 and a 200-day simple moving average of $114.13. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The stock has a market capitalization of $14.60 billion, a P/E ratio of 56.61, a P/E/G ratio of 6.19 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. As a group, sell-side analysts forecast that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently modified their holdings of the stock. SCP Investment LP purchased a new position in shares of Enphase Energy during the fourth quarter valued at $355,000. Stifel Financial Corp grew its holdings in shares of Enphase Energy by 25.0% during the fourth quarter. Stifel Financial Corp now owns 101,140 shares of the semiconductor company’s stock valued at $13,365,000 after buying an additional 20,247 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 336 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Enphase Energy by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 223,535 shares of the semiconductor company’s stock valued at $29,538,000 after buying an additional 7,697 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Enphase Energy by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 112,077 shares of the semiconductor company’s stock valued at $14,811,000 after buying an additional 2,823 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

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.