Enviva Inc. (NYSE:EVA) Shares Acquired by Cwm LLC

Cwm LLC increased its position in shares of Enviva Inc. (NYSE:EVAGet Rating) by 178.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 862 shares of the energy company’s stock after acquiring an additional 552 shares during the quarter. Cwm LLC’s holdings in Enviva were worth $52,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverstone Holdings LLC raised its stake in Enviva by 0.4% during the second quarter. Riverstone Holdings LLC now owns 27,999,267 shares of the energy company’s stock worth $1,602,118,000 after purchasing an additional 98,042 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Enviva during the 1st quarter valued at approximately $194,589,000. State Street Corp lifted its holdings in Enviva by 1,306.1% in the second quarter. State Street Corp now owns 1,310,007 shares of the energy company’s stock valued at $74,959,000 after acquiring an additional 1,216,841 shares during the last quarter. Clearbridge Investments LLC grew its position in Enviva by 8.4% in the second quarter. Clearbridge Investments LLC now owns 464,378 shares of the energy company’s stock worth $26,572,000 after acquiring an additional 36,000 shares during the period. Finally, BlackRock Inc. acquired a new stake in Enviva during the first quarter worth $29,740,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeffrey W. Ubben acquired 200,000 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was acquired at an average price of $55.00 per share, for a total transaction of $11,000,000.00. Following the purchase, the director now owns 5,742,439 shares of the company’s stock, valued at approximately $315,834,145. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Jeffrey W. Ubben purchased 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was bought at an average price of $55.00 per share, for a total transaction of $11,000,000.00. Following the completion of the purchase, the director now directly owns 5,742,439 shares of the company’s stock, valued at $315,834,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Ubben purchased 28,697 shares of the stock in a transaction on Wednesday, November 30th. The shares were purchased at an average price of $53.25 per share, with a total value of $1,528,115.25. Following the acquisition, the director now directly owns 5,542,439 shares in the company, valued at $295,134,876.75. The disclosure for this purchase can be found here. 13.30% of the stock is owned by company insiders.

Enviva Trading Down 8.3 %

Shares of EVA stock opened at $44.29 on Friday. Enviva Inc. has a fifty-two week low of $43.60 and a fifty-two week high of $91.06. The company has a 50 day moving average price of $54.28 and a 200 day moving average price of $60.86. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.69 and a current ratio of 1.09.

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

Enviva Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 8.17%.

Analysts Set New Price Targets

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

About Enviva

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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.

Further Reading

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Institutional Ownership by Quarter for Enviva (NYSE:EVA)

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