Kayne Anderson Capital Advisors LP Sells 481,907 Shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Kayne Anderson Capital Advisors LP cut its position in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 61.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,643 shares of the company’s stock after selling 481,907 shares during the period. Kayne Anderson Capital Advisors LP owned about 0.26% of Enlight Renewable Energy worth $5,773,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ENLT. DekaBank Deutsche Girozentrale boosted its stake in Enlight Renewable Energy by 1.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 422,381 shares of the company’s stock worth $6,560,000 after purchasing an additional 4,415 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Enlight Renewable Energy by 12.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,192 shares of the company’s stock worth $761,000 after purchasing an additional 5,215 shares during the last quarter. Swiss National Bank increased its position in shares of Enlight Renewable Energy by 3.6% during the third quarter. Swiss National Bank now owns 260,411 shares of the company’s stock worth $4,098,000 after buying an additional 9,069 shares during the period. Vanguard Group Inc. boosted its stake in Enlight Renewable Energy by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,889,496 shares of the company’s stock worth $61,026,000 after acquiring an additional 79,618 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Enlight Renewable Energy by 40.1% during the third quarter. Assenagon Asset Management S.A. now owns 410,362 shares of the company’s stock worth $6,476,000 after purchasing an additional 117,525 shares during the period. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENLT. Barclays decreased their price objective on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective (up from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th.

Enlight Renewable Energy Stock Up 0.4 %

Enlight Renewable Energy stock traded up $0.08 during trading on Thursday, reaching $18.17. The stock had a trading volume of 1,630 shares, compared to its average volume of 44,063. The stock has a market cap of $2.10 billion, a PE ratio of 31.74 and a beta of 1.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $16.85 and a 200 day moving average price of $16.90. Enlight Renewable Energy Ltd has a 52-week low of $12.11 and a 52-week high of $20.44.

Enlight Renewable Energy (NASDAQ:ENLT) last announced its earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $90.40 million during the quarter, compared to the consensus estimate of $79.31 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, analysts predict that Enlight Renewable Energy Ltd will post 0.44 EPS for the current year.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.