CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Exits ENPH Stake

Cushing Asset Management, LP, also known as NXG Investment Management, sold its entire stake of 40,000 shares in Enphase Energy, Inc. (ENPH) in a filing on October 26, 2026. This sale left the firm with no shares in the company, which had a reported value of about $1.2 million at the time of the transaction.

ENPH Enphase Energy, Inc.

$30.36 ▼ -10.04% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Enphase Energy Fits in Cushing Asset Management's Portfolio

This sale marked a 100% decrease in Cushing's position in Enphase Energy, which was previously ranked 73rd in its portfolio.

Other Institutional Activity in Enphase Energy

Two Sigma Investments, LP reduced its holdings by 820,304 shares, ending with 4,655,692 shares valued at about $141.3 million. Gilder Gagnon Howe & Co LLC grew its stake by 1,332,514 shares, bringing its total to 3,478,961 shares worth approximately $105.6 million. Slate Path Capital, LP also increased its position by 1,677,284 shares, totaling 2,587,170 shares valued at around $78.5 million.

Enphase Energy, Inc. Stock Down 3.9%

Enphase Energy shares recently traded around $30.38, which is about equal to the closing price of $30.36 on October 26, 2026. The stock is currently below its 50-day moving average by 12.1% and is significantly off its 52-week high of $73.74, indicating a challenging market environment for the company.

Recent Earnings

Enphase Energy reported trailing twelve-month revenue of approximately $1.33 billion, with a year-over-year revenue decline of 19.6%. The company is set to announce its next earnings on October 27, 2026.

Insider Buying and Selling at Enphase Energy, Inc.

In recent insider transactions, Director Shanker Trivedi bought 1,000 shares at an average price of $53.91 on June 12, 2026. However, Director Richard Mora sold 2,000 shares at $36.76 and another 1,500 shares at $40.36 on July 30 and August 14, 2026, respectively.

Analysts Set New Price Targets

On October 6, 2026, Barclays maintained its Equal-Weight rating on Enphase Energy with a price target of $44.00, down from $50.00. Morgan Stanley, on October 14, 2026, also maintained its Underweight rating with a target of $24.00, reduced from $27.00. The consensus among analysts is a 'buy' recommendation, with a mean price target of approximately $49.13.

About Enphase Energy

Enphase Energy, Inc. designs and manufactures home energy solutions for the solar industry. The company focuses on microinverters, which convert energy at the individual solar module level, and offers related monitoring and control technologies. This recent sell-off by Cushing Asset Management may reflect broader market concerns impacting the solar sector.

Bottom Line

Investors will look to the upcoming earnings report on October 27, 2026, for insights into Enphase Energy's performance. The exit from this position by Cushing Asset Management could signal caution among investors as the company navigates a challenging market landscape.