Enviva Inc. (NYSE:EVA) Declares $0.91 Quarterly Dividend

Enviva Inc. (NYSE:EVAGet Rating) announced a quarterly dividend on Wednesday, August 3rd, Zacks reports. Stockholders of record on Monday, August 15th will be given a dividend of 0.905 per share by the energy company on Friday, August 26th. This represents a $3.62 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Friday, August 12th.

Enviva has a payout ratio of 335.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enviva to earn $1.35 per share next year, which means the company may not be able to cover its $3.62 annual dividend with an expected future payout ratio of 268.1%.

Enviva Trading Up 2.6 %

Enviva stock traded up $1.73 during midday trading on Friday, reaching $69.49. The stock had a trading volume of 2,987 shares, compared to its average volume of 340,056. Enviva has a twelve month low of $51.46 and a twelve month high of $91.06. The stock has a market capitalization of $4.63 billion, a PE ratio of 118.57 and a beta of 1.15. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.48 and a current ratio of 0.79. The stock’s 50-day simple moving average is $65.20 and its 200 day simple moving average is $72.18.

Enviva (NYSE:EVAGet Rating) last issued its earnings results on Thursday, May 5th. The energy company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $232.98 million for the quarter, compared to analysts’ expectations of $257.49 million. Analysts expect that Enviva will post 0.7 EPS for the current year.

Insider Buying and Selling

In other Enviva news, EVP Yana Kravtsova sold 476 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $76.08, for a total value of $36,214.08. Following the transaction, the executive vice president now owns 92,249 shares of the company’s stock, valued at $7,018,303.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Thomas Meth purchased 8,600 shares of the company’s stock in a transaction on Thursday, June 23rd. The shares were bought at an average price of $58.78 per share, with a total value of $505,508.00. Following the completion of the acquisition, the president now owns 426,255 shares of the company’s stock, valued at $25,055,268.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yana Kravtsova sold 476 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $76.08, for a total value of $36,214.08. Following the completion of the transaction, the executive vice president now directly owns 92,249 shares in the company, valued at approximately $7,018,303.92. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 40,522 shares of company stock valued at $2,581,596 and have sold 1,904 shares valued at $134,718. 13.30% of the stock is owned by corporate insiders.

Institutional Trading of Enviva

Several large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in Enviva during the 1st quarter valued at $26,000. Raymond James Trust N.A. raised its stake in Enviva by 15.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,575 shares of the energy company’s stock valued at $283,000 after purchasing an additional 473 shares during the period. Baird Financial Group Inc. raised its stake in Enviva by 8.3% during the 1st quarter. Baird Financial Group Inc. now owns 6,500 shares of the energy company’s stock valued at $514,000 after purchasing an additional 500 shares during the period. Citigroup Inc. acquired a new stake in Enviva during the 1st quarter valued at $103,000. Finally, Cibc World Market Inc. acquired a new stake in Enviva during the 1st quarter valued at $290,000.

Wall Street Analyst Weigh In

Several research analysts have commented on EVA shares. JPMorgan Chase & Co. raised their price objective on Enviva from $70.00 to $71.00 in a research report on Wednesday, July 20th. StockNews.com upgraded Enviva to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enviva presently has a consensus rating of “Hold” and an average price target of $76.71.

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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Dividend History for Enviva (NYSE:EVA)

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