Cambridge Investment Research Advisors Inc. Reduces Position in Enviva Inc. (NYSE:EVA)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Enviva Inc. (NYSE:EVAGet Rating) by 53.2% in the 3rd quarter, Holdings Channel reports. The fund owned 6,070 shares of the energy company’s stock after selling 6,900 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Enviva were worth $365,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EVA. Vanguard Group Inc. acquired a new position in Enviva in the 1st quarter valued at about $194,589,000. State Street Corp boosted its holdings in Enviva by 1,306.1% in the 2nd quarter. State Street Corp now owns 1,310,007 shares of the energy company’s stock valued at $74,959,000 after purchasing an additional 1,216,841 shares during the last quarter. BlackRock Inc. acquired a new position in Enviva in the 1st quarter valued at about $29,740,000. Capital International Investors acquired a new position in Enviva in the 1st quarter valued at about $14,759,000. Finally, Northern Trust Corp boosted its holdings in Enviva by 337.3% in the 2nd quarter. Northern Trust Corp now owns 220,805 shares of the energy company’s stock valued at $12,634,000 after purchasing an additional 170,307 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Enviva Stock Up 6.5 %

Enviva stock opened at $50.74 on Friday. Enviva Inc. has a 52-week low of $45.24 and a 52-week high of $91.06. The company has a current ratio of 1.09, a quick ratio of 0.69 and a debt-to-equity ratio of 3.95. The company’s 50 day moving average is $55.30 and its two-hundred day moving average is $61.24.

Enviva (NYSE:EVAGet Rating) last released its earnings results on Wednesday, November 2nd. The energy company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The business had revenue of $325.66 million for the quarter, compared to analyst estimates of $356.93 million. Enviva had a negative return on equity of 23.46% and a negative net margin of 13.06%. Research analysts predict that Enviva Inc. will post 0.17 EPS for the current fiscal year.

Enviva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Monday, November 14th were issued a dividend of $0.905 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $3.62 dividend on an annualized basis and a yield of 7.13%.

Analyst Ratings Changes

Several equities analysts have weighed in on EVA shares. Citigroup upgraded shares of Enviva from a “neutral” rating to a “buy” rating and decreased their target price for the company from $79.00 to $62.00 in a report on Friday, October 14th. JPMorgan Chase & Co. decreased their price objective on shares of Enviva from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, October 20th. Raymond James upgraded shares of Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, October 18th. Royal Bank of Canada decreased their price objective on shares of Enviva from $76.00 to $63.00 in a report on Tuesday, November 29th. Finally, StockNews.com upgraded shares of Enviva to a “sell” rating in a report on Thursday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enviva has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Buying and Selling at Enviva

In other news, Director Jeffrey W. Ubben acquired 25,000 shares of the company’s stock in a transaction on Thursday, October 20th. The shares were bought at an average cost of $50.24 per share, with a total value of $1,256,000.00. Following the transaction, the director now owns 5,513,742 shares in the company, valued at approximately $277,010,398.08. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey W. Ubben acquired 25,000 shares of the company’s stock in a transaction on Thursday, October 20th. The shares were bought at an average cost of $50.24 per share, with a total value of $1,256,000.00. Following the transaction, the director now owns 5,513,742 shares in the company, valued at approximately $277,010,398.08. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Ubben acquired 200,000 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was purchased at an average cost of $55.00 per share, for a total transaction of $11,000,000.00. Following the completion of the transaction, the director now owns 5,742,439 shares in the company, valued at approximately $315,834,145. The disclosure for this purchase can be found here. In the last three months, insiders have bought 253,697 shares of company stock valued at $13,784,115. Insiders own 13.30% of the company’s stock.

Enviva Profile

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Enviva Inc produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc was incorporated in 2013 and is headquartered in Bethesda, Maryland.

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Institutional Ownership by Quarter for Enviva (NYSE:EVA)

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