Enviva Inc. (NYSE:EVA) Stock Holdings Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in Enviva Inc. (NYSE:EVAGet Rating) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,480 shares of the energy company’s stock after buying an additional 2,930 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Enviva worth $2,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EVA. Vanguard Group Inc. bought a new stake in Enviva in the first quarter valued at about $194,589,000. State Street Corp grew its holdings in shares of Enviva by 1,306.1% during the second quarter. State Street Corp now owns 1,310,007 shares of the energy company’s stock valued at $74,959,000 after purchasing an additional 1,216,841 shares during the last quarter. BlackRock Inc. bought a new position in shares of Enviva during the first quarter valued at approximately $29,740,000. Capital International Investors bought a new position in shares of Enviva during the first quarter valued at approximately $14,759,000. Finally, Northern Trust Corp grew its holdings in shares of Enviva by 337.3% during the second quarter. Northern Trust Corp now owns 220,805 shares of the energy company’s stock valued at $12,634,000 after purchasing an additional 170,307 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Enviva from $66.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Raymond James raised Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 target price for the company in a report on Tuesday, October 18th. Royal Bank of Canada lowered their target price on Enviva from $76.00 to $63.00 in a report on Tuesday, November 29th. Citigroup upgraded Enviva from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $79.00 to $62.00 in a research report on Friday, October 14th. Finally, StockNews.com upgraded Enviva to a “sell” rating in a research report on Thursday, December 22nd. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Insiders Place Their Bets

In other news, Director Jeffrey W. Ubben bought 200,000 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was purchased at an average cost of $55.00 per share, for a total transaction 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 approximately $315,834,145. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey W. Ubben purchased 200,000 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were bought at an average price of $55.00 per share, with a total value of $11,000,000.00. Following the completion of the acquisition, the director now owns 5,742,439 shares of the company’s stock, valued at $315,834,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Ubben purchased 28,697 shares of the company’s stock in a transaction on Wednesday, November 30th. The stock was bought at an average cost of $53.25 per share, for a total transaction of $1,528,115.25. Following the acquisition, the director now directly owns 5,542,439 shares of the company’s stock, valued at approximately $295,134,876.75. The disclosure for this purchase can be found here. 13.30% of the stock is currently owned by insiders.

Enviva Stock Down 8.3 %

EVA opened at $44.29 on Friday. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.69 and a current ratio of 1.09. Enviva Inc. has a 1-year low of $43.60 and a 1-year high of $91.06. The business has a 50 day moving average price of $54.28 and a two-hundred day moving average price of $60.86.

Enviva (NYSE:EVAGet Rating) last released its earnings results on Wednesday, November 2nd. The energy company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.16). The firm had revenue of $325.66 million during the quarter, compared to analyst estimates of $356.93 million. Enviva had a negative return on equity of 23.46% and a negative net margin of 13.06%. Research analysts anticipate that Enviva Inc. will post 0.17 earnings per share for the current fiscal year.

Enviva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Monday, November 14th were given a $0.905 dividend. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $3.62 dividend on an annualized basis and a yield of 8.17%.

Enviva 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.

Further Reading

Institutional Ownership by Quarter for Enviva (NYSE:EVA)

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