Enviva Inc. (NYSE:EVA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Enviva Inc. (NYSE:EVAGet Rating) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $88.20.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Enviva from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, April 19th. Raymond James lowered shares of Enviva from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 5th. StockNews.com began coverage on shares of Enviva in a report on Thursday, March 31st. They issued a “sell” rating for the company. Royal Bank of Canada upped their price target on Enviva from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, March 7th. Finally, Truist Financial started coverage on Enviva in a report on Tuesday, March 29th. They issued a “buy” rating and a $100.00 price target on the stock.

In other news, Director Jeffrey W. Ubben sold 501,691 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $75.38, for a total transaction of $37,817,467.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ralph Alexander acquired 1,614 shares of Enviva stock in a transaction dated Thursday, March 3rd. The shares were purchased at an average cost of $77.28 per share, with a total value of $124,729.92. The disclosure for this purchase can be found here. Insiders own 13.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of EVA. Retirement Planning Co of New England Inc. bought a new stake in shares of Enviva in the fourth quarter valued at about $40,000. Valley National Advisers Inc. bought a new stake in shares of Enviva in the first quarter valued at about $40,000. Atticus Wealth Management LLC bought a new stake in shares of Enviva in the first quarter valued at about $69,000. Adirondack Trust Co. bought a new stake in Enviva during the third quarter worth about $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Enviva by 14.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,739 shares of the energy company’s stock worth $148,000 after purchasing an additional 339 shares during the period.

Shares of EVA stock opened at $77.28 on Monday. The firm’s 50 day moving average price is $80.37 and its two-hundred day moving average price is $73.82. Enviva has a fifty-two week low of $47.67 and a fifty-two week high of $91.06. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 4.55. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -105.86 and a beta of 0.96.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Monday, May 16th will be given a dividend of $0.905 per share. The ex-dividend date is Friday, May 13th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 4.68%. This is an increase from Enviva’s previous quarterly dividend of $0.86. Enviva’s payout ratio is presently -471.23%.

Enviva Company Profile (Get Rating)

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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Analyst Recommendations for Enviva (NYSE:EVA)

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