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

Shares of Enviva Inc. (NYSE:EVAGet Rating) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $75.60.

Several analysts recently commented on the stock. Raymond James upgraded shares of Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 price target for the company in a research report on Tuesday, October 18th. Royal Bank of Canada cut shares of Enviva from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $78.00 to $76.00 in a research note on Friday, August 19th. Citigroup raised shares of Enviva from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $79.00 to $62.00 in a research note on Friday, October 14th. StockNews.com raised shares of Enviva to a “sell” rating in a research note on Thursday, November 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Enviva from $66.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, October 20th.

Enviva Stock Down 0.3 %

EVA stock opened at $59.70 on Friday. The company has a fifty day moving average price of $60.01 and a 200 day moving average price of $65.33. Enviva has a 12 month low of $45.88 and a 12 month high of $91.06. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 103.22 and a beta of 1.13. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.09 and a quick ratio of 0.69.

Enviva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Monday, November 14th will be paid a dividend of $0.905 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 6.06%.

Insider Transactions at Enviva

In related news, Director Jeffrey W. Ubben purchased 25,000 shares of the stock in a transaction dated Thursday, October 20th. The shares were acquired at an average cost of $50.24 per share, with a total value of $1,256,000.00. Following the purchase, the director now directly owns 5,513,742 shares in the company, valued at approximately $277,010,398.08. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Enviva news, Director Jeffrey W. Ubben acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 20th. The shares were acquired at an average cost of $50.24 per share, for a total transaction of $1,256,000.00. Following the transaction, the director now directly owns 5,513,742 shares of the company’s stock, valued at $277,010,398.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Ubben acquired 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The stock was acquired at an average price of $50.69 per share, for a total transaction of $10,138,000.00. Following the completion of the transaction, the director now directly owns 5,412,296 shares in the company, valued at $274,349,284.24. The disclosure for this purchase can be found here. Insiders have purchased a total of 322,866 shares of company stock valued at $16,356,874 in the last ninety days. 13.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enviva

Several institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its position in shares of Enviva by 2.6% in the 1st quarter. D.A. Davidson & CO. now owns 5,828 shares of the energy company’s stock worth $461,000 after buying an additional 150 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Enviva by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 13,116 shares of the energy company’s stock valued at $788,000 after purchasing an additional 170 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Enviva by 5.2% in the 2nd quarter. CWA Asset Management Group LLC now owns 3,544 shares of the energy company’s stock valued at $203,000 after purchasing an additional 174 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Enviva by 3.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,680 shares of the energy company’s stock valued at $341,000 after purchasing an additional 200 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Enviva by 6.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the energy company’s stock valued at $237,000 after purchasing an additional 224 shares in the last quarter. 82.55% of the stock is currently owned by hedge funds and other institutional investors.

Enviva Company Profile

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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.

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Analyst Recommendations for Enviva (NYSE:EVA)

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