Avantax Advisory Services Inc. Decreases Stock Holdings in Enviva Inc. (NYSE:EVA)

Avantax Advisory Services Inc. reduced its holdings in shares of Enviva Inc. (NYSE:EVA – Get Rating) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,782 shares of the energy company’s stock after selling 549 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Enviva were worth $768,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new position in shares of Enviva in the first quarter valued at $26,000. American International Group Inc. purchased a new position in shares of Enviva in the second quarter valued at $27,000. Spire Wealth Management purchased a new position in shares of Enviva in the second quarter valued at $31,000. Allworth Financial LP purchased a new position in shares of Enviva in the second quarter valued at $34,000. Finally, Capital Analysts LLC purchased a new position in shares of Enviva in the second quarter valued at $43,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of Enviva from a “neutral” rating to a “buy” rating and decreased their target price for the company from $79.00 to $62.00 in a research note on Friday, October 14th. Raymond James upgraded shares of Enviva from an “outperform” rating to a “strong-buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 18th. Royal Bank of Canada reduced their price objective on shares of Enviva from $76.00 to $63.00 in a research note on Tuesday, November 29th. JPMorgan Chase & Co. reduced 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. Finally, StockNews.com upgraded shares of Enviva to a “sell” rating in a research note on Thursday, December 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Enviva Price Performance

Shares of NYSE:EVA opened at $46.45 on Monday. Enviva Inc. has a 1-year low of $43.60 and a 1-year high of $91.06. The company’s fifty day moving average is $54.00 and its two-hundred day moving average is $60.84. 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 (NYSE:EVA – Get Rating) last issued 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 business had revenue of $325.66 million for 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%. Equities research analysts forecast that Enviva Inc. will post 0.17 EPS for the current fiscal year.

Enviva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Monday, November 14th were issued 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 dividend yield of 7.79%.

Insider Buying and Selling

In other news, Director Jeffrey W. Ubben acquired 200,000 shares of the company’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 acquisition, the director now directly owns 5,742,439 shares in the company, valued at $315,834,145. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey W. Ubben acquired 28,697 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were acquired at an average price of $53.25 per share, with a total value of $1,528,115.25. Following the acquisition, the director now directly owns 5,542,439 shares in the company, valued at $295,134,876.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Ubben acquired 200,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 5,742,439 shares in the company, valued at $315,834,145. The disclosure for this purchase can be found here. Corporate insiders own 13.30% of the company’s stock.

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.