Avantax Advisory Services Inc. trimmed its stake in Enviva Inc. (NYSE:EVA – Get Rating) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,782 shares of the energy company’s stock after selling 549 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Enviva were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in EVA. Vanguard Group Inc. purchased a new stake in shares of Enviva in the first quarter worth approximately $194,589,000. State Street Corp lifted its position in shares of Enviva by 1,306.1% in the second quarter. State Street Corp now owns 1,310,007 shares of the energy company’s stock worth $74,959,000 after purchasing an additional 1,216,841 shares in the last quarter. BlackRock Inc. bought a new position in Enviva during the first quarter valued at approximately $29,740,000. Capital International Investors bought a new position in Enviva during the first quarter valued at approximately $14,759,000. Finally, Northern Trust Corp raised its position in Enviva by 337.3% during the second quarter. Northern Trust Corp now owns 220,805 shares of the energy company’s stock valued at $12,634,000 after acquiring an additional 170,307 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Enviva
In related news, Director Jeffrey W. Ubben acquired 28,697 shares of the stock in a transaction dated Wednesday, November 30th. The shares were acquired at an average price of $53.25 per share, for a total transaction of $1,528,115.25. Following the completion of the purchase, the director now owns 5,542,439 shares in the company, valued at approximately $295,134,876.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey W. Ubben acquired 28,697 shares of the stock in a transaction dated Wednesday, November 30th. The shares were acquired at an average price of $53.25 per share, for a total transaction of $1,528,115.25. Following the completion of the purchase, the director now owns 5,542,439 shares in the company, valued at approximately $295,134,876.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Ubben purchased 200,000 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were 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 directly owns 5,742,439 shares of the company’s stock, valued at $315,834,145. The disclosure for this purchase can be found here. 13.30% of the stock is currently owned by corporate insiders.
Enviva Stock Performance
Enviva (NYSE:EVA – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The energy company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.16). The company had revenue of $325.66 million during 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%. On average, equities research analysts predict that Enviva Inc. will post 0.17 earnings per share for the current year.
Enviva Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Monday, November 14th were paid a $0.905 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $3.62 annualized dividend and a dividend yield of 7.79%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on EVA. Raymond James raised shares of Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 18th. StockNews.com raised shares of Enviva to a “sell” rating in a research report on Thursday, December 22nd. JPMorgan Chase & Co. cut their price objective on shares of Enviva from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, October 20th. Citigroup raised shares of Enviva from a “neutral” rating to a “buy” rating and cut their price objective for the company from $79.00 to $62.00 in a research report on Friday, October 14th. Finally, Royal Bank of Canada dropped their price target on shares of Enviva from $76.00 to $63.00 in a research report on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enviva has an average rating of “Moderate Buy” and a consensus price target of $73.00.
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.
- Get a free copy of the StockNews.com research report on Enviva (EVA)
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