Legal & General Group Plc Raises Holdings in Enlight Renewable Energy Ltd (NASDAQ:ENLT)

Legal & General Group Plc lifted its position in shares of Enlight Renewable Energy Ltd (NASDAQ:ENLT) by 5.7% during the fourth quarter, according to 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 period. Legal & General Group Plc owned about 0.44% of Enlight Renewable Energy worth $8,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. increased its position in Enlight Renewable Energy by 51.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,850 shares of the company’s stock worth $32,000 after buying an additional 625 shares during the period. Geode Capital Management LLC grew its position in shares of Enlight Renewable Energy by 0.9% during the third quarter. Geode Capital Management LLC now owns 103,590 shares of the company’s stock worth $1,751,000 after acquiring an additional 907 shares during the last quarter. Tidal Investments LLC boosted its stake in Enlight Renewable Energy by 11.3% during the 3rd quarter. Tidal Investments LLC now owns 18,241 shares of the company’s stock worth $308,000 after purchasing an additional 1,852 shares during the period. Russell Investments Group Ltd. acquired a new stake in Enlight Renewable Energy during the 4th quarter worth $145,000. Finally, Pictet Asset Management Holding SA grew its position in Enlight Renewable Energy by 19.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 125,865 shares of the company’s stock worth $2,178,000 after purchasing an additional 20,345 shares during the last quarter. 38.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENLT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Enlight Renewable Energy in a research note on Thursday, March 6th. They set a “buy” rating and a $22.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Enlight Renewable Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wolfe Research cut Enlight Renewable Energy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Enlight Renewable Energy Stock Performance

Shares of ENLT stock opened at $15.61 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.53 and a debt-to-equity ratio of 1.98. Enlight Renewable Energy Ltd has a 12-month low of $14.01 and a 12-month high of $18.48. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 43.36 and a beta of 1.26. The stock has a 50 day simple moving average of $16.35 and a 200-day simple moving average of $16.31.

Enlight Renewable Energy (NASDAQ:ENLT) last released 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 return on equity of 3.03% and a net margin of 11.09%. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $289.04 million. On average, equities analysts forecast that Enlight Renewable Energy Ltd will post 0.41 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.