Tudor Pickering Initiates Coverage on Enphase Energy (NASDAQ:ENPH)

Research analysts at Tudor Pickering started coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued to investors on Tuesday, Analyst Ratings Network reports. The brokerage set a “buy” rating and a $195.00 price target on the semiconductor company’s stock. Tudor Pickering’s price objective indicates a potential upside of 29.99% from the company’s current price.

Several other brokerages have also recently commented on ENPH. Piper Sandler reduced their target price on shares of Enphase Energy from $211.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. B. Riley increased their target price on shares of Enphase Energy from $108.00 to $151.00 and gave the stock a “neutral” rating in a report on Tuesday, February 9th. Susquehanna upgraded shares of Enphase Energy from a “neutral” rating to a “positive” rating and set a $200.00 target price for the company in a report on Thursday, March 25th. Susquehanna Bancshares upgraded shares of Enphase Energy from a “neutral” rating to a “positive” rating and set a $200.00 target price for the company in a report on Friday, March 19th. Finally, Roth Capital increased their target price on shares of Enphase Energy from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, February 10th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Enphase Energy has an average rating of “Buy” and an average target price of $177.63.

Enphase Energy stock opened at $150.01 on Tuesday. The stock has a market capitalization of $20.34 billion, a PE ratio of 117.20, a price-to-earnings-growth ratio of 3.36 and a beta of 1.44. Enphase Energy has a twelve month low of $34.34 and a twelve month high of $229.04. The company has a quick ratio of 3.17, a current ratio of 3.31 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $162.82 and a 200-day moving average of $149.52.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Monday, February 8th. The semiconductor company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.10. The company had revenue of $264.80 million during the quarter, compared to analysts’ expectations of $254.21 million. Enphase Energy had a net margin of 24.69% and a return on equity of 30.06%. The business’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities analysts anticipate that Enphase Energy will post 0.95 EPS for the current fiscal year.

In other Enphase Energy news, CAO Mandy Yang sold 5,757 shares of Enphase Energy stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $204.43, for a total value of $1,176,903.51. Following the completion of the sale, the chief accounting officer now owns 123,772 shares in the company, valued at approximately $25,302,709.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Branderiz sold 62,021 shares of Enphase Energy stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $156.51, for a total transaction of $9,706,906.71. Following the completion of the sale, the chief financial officer now owns 203,677 shares of the company’s stock, valued at approximately $31,877,487.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,471 shares of company stock valued at $37,630,844. 7.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ENPH. Lindbrook Capital LLC raised its stake in Enphase Energy by 80.0% in the 4th quarter. Lindbrook Capital LLC now owns 180 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $34,000. Bessemer Group Inc. acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $35,000. Perigon Wealth Management LLC acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $36,000. Finally, Archer Investment Corp acquired a new position in shares of Enphase Energy in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

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 services.

Featured Article: Why is the ROA ratio important?

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.