Nuveen Asset Management LLC Buys New Stake in Enviva Inc. (NYSE:EVA)

Nuveen Asset Management LLC acquired a new position in Enviva Inc. (NYSE:EVAGet Rating) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 122,719 shares of the energy company’s stock, valued at approximately $7,556,000.

A number of other institutional investors have also recently added to or reduced their stakes in EVA. Lazard Asset Management LLC acquired a new position in Enviva in the 1st quarter worth $26,000. American International Group Inc. acquired a new position in Enviva in the 2nd quarter worth $27,000. Capital Analysts LLC acquired a new position in Enviva in the 2nd quarter worth $43,000. CWM LLC lifted its holdings in Enviva by 178.1% in the 3rd quarter. CWM LLC now owns 862 shares of the energy company’s stock worth $52,000 after buying an additional 552 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in Enviva in the 1st quarter worth $103,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Enviva Price Performance

Shares of NYSE:EVA opened at $32.33 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.81 and a debt-to-equity ratio of 5.48. Enviva Inc. has a fifty-two week low of $31.27 and a fifty-two week high of $91.06. The firm has a 50-day simple moving average of $44.84 and a 200 day simple moving average of $55.00. The company has a market cap of $2.19 billion, a PE ratio of -12.43 and a beta of 1.04.

Enviva (NYSE:EVAGet Rating) last announced its quarterly earnings data on Wednesday, March 1st. The energy company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($1.42). Enviva had a negative net margin of 15.38% and a negative return on equity of 20.29%. The business had revenue of $239.31 million for the quarter, compared to the consensus estimate of $443.54 million. On average, sell-side analysts anticipate that Enviva Inc. will post 0.58 EPS for the current year.

Enviva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Tuesday, February 21st were given a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a dividend yield of 11.20%. The ex-dividend date of this dividend was Friday, February 17th. Enviva’s dividend payout ratio is presently -139.23%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of Enviva from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. Royal Bank of Canada cut their target price on shares of Enviva from $76.00 to $63.00 in a research note on Tuesday, November 29th. StockNews.com upgraded shares of Enviva to a “sell” rating in a research note on Thursday, January 26th. Raymond James cut their target price on shares of Enviva from $80.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Thursday, March 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Enviva from $61.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enviva presently has a consensus rating of “Moderate Buy” and an average target price of $60.80.

About Enviva

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Enviva, Inc engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.

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Institutional Ownership by Quarter for Enviva (NYSE:EVA)

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