Cambridge Investment Research Advisors Inc. Sells 6,900 Shares of Enviva Inc. (NYSE:EVA)

Cambridge Investment Research Advisors Inc. lowered its position in Enviva Inc. (NYSE:EVA – Get Rating) by 53.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,070 shares of the energy company’s stock after selling 6,900 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Enviva were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Wedbush Securities Inc. purchased a new position in shares of Enviva during the second quarter worth approximately $2,291,000. Good Life Advisors LLC purchased a new position in shares of Enviva during the second quarter worth approximately $437,000. Bard Associates Inc. increased its position in shares of Enviva by 2.6% during the second quarter. Bard Associates Inc. now owns 52,485 shares of the energy company’s stock worth $3,003,000 after acquiring an additional 1,350 shares during the period. Baird Financial Group Inc. increased its position in shares of Enviva by 325.4% during the second quarter. Baird Financial Group Inc. now owns 27,653 shares of the energy company’s stock worth $1,582,000 after acquiring an additional 21,153 shares during the period. Finally, CWA Asset Management Group LLC increased its holdings in Enviva by 5.2% during the second quarter. CWA Asset Management Group LLC now owns 3,544 shares of the energy company’s stock valued at $203,000 after buying an additional 174 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EVA shares. 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 report on Friday, October 14th. 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 report on Tuesday, October 18th. 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 report on Thursday, October 20th. StockNews.com raised shares of Enviva to a “sell” rating in a report on Thursday, December 22nd. Finally, Royal Bank of Canada cut their price target on shares of Enviva from $76.00 to $63.00 in a 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Enviva has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Transactions at Enviva

In related news, Director Jeffrey W. Ubben acquired 200,000 shares of the stock in a transaction dated Friday, December 2nd. The stock was acquired at an average cost of $55.00 per share, for a total transaction of $11,000,000.00. Following the completion of the purchase, the director now owns 5,742,439 shares of the company’s stock, valued at approximately $315,834,145. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Enviva news, Director Jeffrey W. Ubben bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 20th. The stock was bought at an average cost of $50.24 per share, for a total transaction of $1,256,000.00. Following the completion of the transaction, the director now directly owns 5,513,742 shares of the company’s stock, valued at approximately $277,010,398.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Ubben bought 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were acquired at an average price of $55.00 per share, with a total value of $11,000,000.00. Following the completion of the transaction, 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. Over the last ninety days, insiders purchased 253,697 shares of company stock worth $13,784,115. Company insiders own 13.30% of the company’s stock.

Enviva Price Performance

NYSE EVA opened at $50.74 on Friday. The firm’s fifty day simple moving average is $55.30 and its two-hundred day simple moving average is $61.24. The company has a quick ratio of 0.69, a current ratio of 1.09 and a debt-to-equity ratio of 3.95. Enviva Inc. has a 12-month low of $45.24 and a 12-month high of $91.06.

Enviva (NYSE:EVA – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The energy company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.16). Enviva had a negative return on equity of 23.46% and a negative net margin of 13.06%. The company had revenue of $325.66 million for the quarter, compared to analyst estimates of $356.93 million. On average, sell-side analysts expect that Enviva Inc. will post 0.17 EPS 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 dividend of $0.905 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $3.62 annualized dividend and a dividend yield of 7.13%.

Enviva 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.