CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Makes New $119,000 Investment in Enphase Energy, Inc. (NASDAQ:ENPH)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Enphase Energy, Inc. (NASDAQ:ENPH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 900 shares of the semiconductor company’s stock, valued at approximately $119,000.

Other large investors also recently modified their holdings of the company. Resurgent Financial Advisors LLC bought a new position in Enphase Energy during the 4th quarter valued at $29,000. KB Financial Partners LLC bought a new position in Enphase Energy in the 1st quarter worth approximately $28,000. Coppell Advisory Solutions Corp. purchased a new stake in Enphase Energy during the 4th quarter worth about $42,000. First Capital Advisors Group LLC. purchased a new stake in shares of Enphase Energy in the second quarter worth $28,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Enphase Energy in the second quarter worth approximately $33,000. 72.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Corporate insiders own 4.20% of the company’s stock.

Enphase Energy Stock Up 9.6 %

Shares of NASDAQ ENPH traded up $10.45 during mid-day trading on Wednesday, hitting $119.80. The company had a trading volume of 4,934,276 shares, compared to its average volume of 4,232,057. The company has a market capitalization of $16.26 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 3.07 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy, Inc. has a 1-year low of $73.49 and a 1-year high of $231.42. The business’s 50-day simple moving average is $116.75 and its 200 day simple moving average is $112.56.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. On average, analysts predict that Enphase Energy, Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on ENPH shares. Jefferies Financial Group started coverage on shares of Enphase Energy in a research report on Friday, December 15th. They set a “buy” rating and a $121.00 price target for the company. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. BMO Capital Markets increased their target price on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Piper Sandler lowered their price target on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research report on Friday, January 12th. Finally, StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.65.

About Enphase Energy

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.