Enviva Inc. (NYSE:EVA) CFO Shai Even Buys 4,300 Shares

Enviva Inc. (NYSE:EVAGet Rating) CFO Shai Even bought 4,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were purchased at an average cost of $58.85 per share, with a total value of $253,055.00. Following the acquisition, the chief financial officer now directly owns 359,130 shares of the company’s stock, valued at $21,134,800.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

EVA traded down $1.74 during mid-day trading on Thursday, hitting $58.50. 411,247 shares of the stock were exchanged, compared to its average volume of 392,060. The firm’s fifty day moving average is $75.30 and its two-hundred day moving average is $74.25. Enviva Inc. has a 1-year low of $51.20 and a 1-year high of $91.06. The company has a current ratio of 0.79, a quick ratio of 0.48 and a debt-to-equity ratio of 2.11. The company has a market cap of $3.89 billion, a PE ratio of 106.00 and a beta of 0.97.

Enviva (NYSE:EVAGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.08. Enviva had a negative return on equity of 24.48% and a negative net margin of 14.67%. The company had revenue of $232.98 million for the quarter, compared to the consensus estimate of $257.49 million. As a group, research analysts anticipate that Enviva Inc. will post 0.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Monday, May 16th were issued a dividend of $0.905 per share. This is an increase from Enviva’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, May 13th. This represents a $3.62 annualized dividend and a yield of 6.19%.

A number of hedge funds and other institutional investors have recently modified their holdings of EVA. Riverstone Holdings LLC increased its holdings in Enviva by 104.6% during the 4th quarter. Riverstone Holdings LLC now owns 27,797,923 shares of the energy company’s stock worth $1,957,530,000 after purchasing an additional 14,211,548 shares during the period. Vanguard Group Inc. purchased a new stake in Enviva during the 1st quarter worth about $194,589,000. GW&K Investment Management LLC purchased a new position in shares of Enviva in the 1st quarter valued at about $43,814,000. Blackstone Inc. purchased a new position in shares of Enviva in the 1st quarter valued at about $37,222,000. Finally, BlackRock Inc. purchased a new position in shares of Enviva in the 1st quarter valued at about $29,740,000.

A number of equities research analysts recently commented on the company. Raymond James downgraded Enviva from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 5th. Royal Bank of Canada lifted their price target on Enviva from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. StockNews.com started coverage on Enviva in a research report on Thursday, March 31st. They set a “sell” rating for the company. JPMorgan Chase & Co. lifted their price target on Enviva from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 19th. Finally, Truist Financial initiated coverage on Enviva in a research report on Tuesday, March 29th. They issued a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enviva has an average rating of “Hold” and a consensus price target of $77.57.

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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