Vanguard Group Inc. Purchases 503,060 Shares of Enlight Renewable Energy Ltd. $ENLT

Vanguard Group Inc. boosted its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,950,674 shares of the company’s stock after purchasing an additional 503,060 shares during the period. Vanguard Group Inc.’s holdings in Enlight Renewable Energy were worth $225,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ENLT. Y.D. More Investments Ltd lifted its stake in Enlight Renewable Energy by 50.5% in the third quarter. Y.D. More Investments Ltd now owns 5,584,817 shares of the company’s stock worth $172,143,000 after purchasing an additional 1,875,084 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Enlight Renewable Energy by 269.0% during the third quarter. First Trust Advisors LP now owns 260,192 shares of the company’s stock worth $8,006,000 after purchasing an additional 189,676 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Enlight Renewable Energy by 2.1% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 8,247,031 shares of the company’s stock worth $253,986,000 after purchasing an additional 173,009 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Enlight Renewable Energy by 3.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,722,610 shares of the company’s stock worth $84,837,000 after purchasing an additional 103,430 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Enlight Renewable Energy by 1,734.8% during the third quarter. Bank of America Corp DE now owns 97,684 shares of the company’s stock worth $3,044,000 after purchasing an additional 92,360 shares during the last quarter. Institutional investors own 38.89% of the company’s stock.

Enlight Renewable Energy Stock Performance

ENLT stock opened at $90.51 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.67. The business has a 50-day moving average price of $76.36 and a 200 day moving average price of $57.22. The company has a market capitalization of $10.73 billion, a P/E ratio of 210.49, a PEG ratio of 22.72 and a beta of 1.51. Enlight Renewable Energy Ltd. has a 1-year low of $16.87 and a 1-year high of $93.85.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. As a group, equities research analysts forecast that Enlight Renewable Energy Ltd. will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ENLT shares. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an “underweight” rating in a research report on Wednesday. Barclays reiterated an “overweight” rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. Mizuho set a $37.00 target price on Enlight Renewable Energy in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price target on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Enlight Renewable Energy presently has a consensus rating of “Hold” and an average price target of $60.17.

Enlight Renewable Energy Profile

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.