Legal & General Group Plc Grows Stake in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Legal & General Group Plc boosted its position in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 504,508 shares of the company’s stock after purchasing an additional 27,248 shares during the quarter. Legal & General Group Plc’s holdings in Enlight Renewable Energy were worth $8,730,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Meitav Investment House Ltd. lifted its position in shares of Enlight Renewable Energy by 4.0% in the fourth quarter. Meitav Investment House Ltd. now owns 5,901,179 shares of the company’s stock valued at $101,910,000 after acquiring an additional 229,255 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Enlight Renewable Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,158,533 shares of the company’s stock worth $71,926,000 after purchasing an additional 35,555 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Enlight Renewable Energy by 18.6% during the fourth quarter. Y.D. More Investments Ltd now owns 3,068,179 shares of the company’s stock worth $53,043,000 after buying an additional 482,129 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Enlight Renewable Energy during the third quarter valued at approximately $4,901,000. Finally, Norges Bank acquired a new stake in Enlight Renewable Energy during the fourth quarter worth approximately $3,631,000. Institutional investors and hedge funds own 38.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ENLT. JPMorgan Chase & Co. raised their price objective on Enlight Renewable Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Wolfe Research downgraded shares of Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Enlight Renewable Energy in a research report on Thursday, March 6th. They issued a “buy” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Enlight Renewable Energy currently has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Enlight Renewable Energy Stock Up 2.0 %

Shares of NASDAQ:ENLT opened at $15.61 on Friday. Enlight Renewable Energy Ltd has a 1 year low of $14.01 and a 1 year high of $18.48. The stock has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $16.31. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.53 and a current ratio of 1.22. The stock has a market capitalization of $1.80 billion, a P/E ratio of 43.36 and a beta of 1.26.

Enlight Renewable Energy (NASDAQ:ENLT) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.17. Enlight Renewable Energy had a net margin of 11.09% and a return on equity of 3.03%. The business had revenue of $114.21 million for the quarter, compared to the consensus estimate of $289.04 million. Equities analysts forecast that Enlight Renewable Energy Ltd will post 0.41 earnings per share 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.