Pathstone Family Office LLC Takes Position in Enviva Inc. (NYSE:EVA)

Pathstone Family Office LLC bought a new stake in shares of Enviva Inc. (NYSE:EVA – Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,587 shares of the energy company’s stock, valued at approximately $756,000.

Several other large investors have also recently made changes to their positions in EVA. Bank of New York Mellon Corp bought a new position in shares of Enviva during the 1st quarter worth $2,229,000. HighTower Advisors LLC bought a new position in shares of Enviva during the 1st quarter worth $518,000. Citigroup Inc. bought a new position in shares of Enviva during the 1st quarter worth $103,000. BlackRock Inc. bought a new position in shares of Enviva during the 1st quarter worth $29,740,000. Finally, Raymond James Trust N.A. grew its stake in shares of Enviva by 15.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,575 shares of the energy company’s stock worth $283,000 after acquiring an additional 473 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enviva Stock Performance

NYSE:EVA opened at $31.91 on Tuesday. The business’s 50-day moving average price is $44.84 and its two-hundred day moving average price is $54.89. Enviva Inc. has a twelve month low of $31.23 and a twelve month high of $91.06. The stock has a market cap of $2.16 billion, a P/E ratio of -12.27 and a beta of 1.04. 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 (NYSE:EVA – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The energy company reported ($0.76) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $443.54 million. As a group, equities analysts predict that Enviva Inc. will post 0.58 EPS for the current fiscal year.

Enviva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Tuesday, February 21st were issued a dividend of $0.905 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 11.34%. Enviva’s dividend payout ratio is -139.23%.

Enviva Profile

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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.