Do You Think Enphase Energy (ENPH) Stock Benefited from Rising Energy Cost?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered negative returns. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell Midcap Growth Index was 0.65% down compared to a 4.92% decline for its counterpart, the Russell Midcap Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Enphase Energy, Inc. (NASDAQ:ENPH). Headquartered in Fremont, California, Enphase Energy, Inc. (NASDAQ:ENPH) is a global technology company for energy management. On October 27, 2022, Enphase Energy, Inc. (NASDAQ:ENPH) stock closed at $306.08 per share. One-month return of Enphase Energy, Inc. (NASDAQ:ENPH) was 10.31% and its shares gained 32.14% of their value over the last 52 weeks. Enphase Energy, Inc. (NASDAQ:ENPH) has a market capitalization of $41.604 billion.

Carillon Tower Advisers made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter:

“Enphase Energy, Inc. (NASDAQ:ENPH) provides technology to manage solar generation, storage, and communication on one platform. The company reported an impressive quarter that exceeded investor expectations on all meaningful metrics, which sent shares higher. The stock remains a useful way to gain exposure to the secular theme of alternative energy and could benefit from the recently passed Inflation Reduction Act.”

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Enphase Energy, Inc. (NASDAQ:ENPH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held Enphase Energy, Inc. (NASDAQ:ENPH) at the end of the second quarter, which was 57 in the previous quarter.

We discussed Enphase Energy, Inc. (NASDAQ:ENPH) in another article and shared the best clean energy stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.