Enphase Energy (NASDAQ:ENPH) PT Lowered to $99.00 at Citigroup

Enphase Energy (NASDAQ:ENPH) had its target price reduced by Citigroup from $114.00 to $99.00 in a research report released on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ENPH. BMO Capital Markets reduced their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Glj Research assumed coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target for the company. William Blair assumed coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Guggenheim upgraded Enphase Energy from a “sell” rating to a “neutral” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group dropped their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Three equities research 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. According to data from MarketBeat.com, Enphase Energy has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Price Performance

ENPH opened at $81.10 on Tuesday. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. 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 stock has a fifty day moving average price of $109.09 and a 200 day moving average price of $112.01.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. Analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently modified their holdings of ENPH. Swedbank AB acquired a new position in shares of Enphase Energy in the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its holdings in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy in the 2nd quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Enphase Energy in the 1st quarter worth approximately $59,128,000. 72.12% of the stock is currently 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.