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Here's Why You Should Add Enphase Energy (ENPH) to Portfolio

Zacks Equity Research

Earnings estimates for Enphase Energy, Inc. ENPH have been revised upward in the past 60 days, reflecting analysts’ optimism on the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings has moved up 44.4% and 40.8% during the said period, respectively.

Let’s focus on the factors that make the stock an appropriate investment option at the moment.

Zacks Rank & Surprise History

Enphase Energy currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The company’s average four-quarter positive earnings surprise is 31.67%.

Price Movement

In the past 12 months, Enphase Energy’ shares have surged 186.2% compared with the industry’s rise of 25.2%.

Estimate Revision

Its earnings estimates for 2019 and 2020 indicate 420% and 32.21% increase on a year-over-year basis to 52 cents and 69 cents per share, respectively. Its revenue estimates for 2019 and 2020 indicate 53.01% and 14.67% increase year over year to $483.76 million and $554.74 million, respectively.

Strong Shipment

Enphase Energy — a global energy technology company — delivers smart, easy-to-use solutions that connect solar generation, storage and management. The company revolutionized solar with its microinverter technology and produces a fully-integrated solar plus storage solution. Since inception, the company has shipped more than 20 million microinverters globally.

Other Stocks to Consider

Some other top-ranked stocks from the same sector are JinkoSolar Holding Company Limited JKS, Evergy Inc EVRG and Earthstone Energy, Inc ESTE. JinkoSolar sports a Zacks Rank of 1, while Evergy and Earthstone Energy carry a Zacks Rank of 2.

For 2019, earnings estimates for JinkoSolar have inched up 0.3% to $2.90 per share in the past 60 days. The company’s long-term earnings growth is pegged at 20%

Evergy’s earnings estimates for 2019 have moved up 0.3% to $2.98 per share in the past 60 days. The company’s long-term earnings growth is pegged at 6.60%.

For 2019, earnings estimate for Earthstone Energy have moved up 21% to 92 cents per share in the past 60 days. The company’s long-term earnings growth is pegged at 30%.

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