Enviva Partners LP (NYSE:EVA) Receives Average Recommendation of “Buy” from Analysts
Enviva Partners LP (NYSE:EVA) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.29.
A number of analysts recently commented on EVA shares. Citigroup Inc. started coverage on shares of Enviva Partners in a report on Friday, August 26th. They set a “neutral” rating and a $26.00 price objective on the stock. DA Davidson started coverage on shares of Enviva Partners in a report on Tuesday, July 19th. They set a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research raised shares of Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a report on Monday, August 8th. Drexel Hamilton started coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Raymond James Financial Inc. downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective on the stock. in a report on Thursday, July 14th.
Shares of Enviva Partners (NYSE:EVA) traded down 1.01% during mid-day trading on Tuesday, hitting $26.58. 46,934 shares of the stock were exchanged. Enviva Partners has a one year low of $11.85 and a one year high of $27.19. The stock has a market cap of $658.44 million, a PE ratio of 20.02 and a beta of 1.31. The company has a 50-day moving average of $24.61 and a 200 day moving average of $22.72.
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Enviva Partners (NYSE:EVA) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $119.70 million for the quarter, compared to the consensus estimate of $123.17 million. Enviva Partners had a net margin of 7.59% and a return on equity of 10.54%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities analysts predict that Enviva Partners will post $1.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.82%. The ex-dividend date was Thursday, August 11th. This is an increase from Enviva Partners’s previous quarterly dividend of $0.51. Enviva Partners’s dividend payout ratio is 159.09%.
Several hedge funds have recently made changes to their positions in EVA. Goldman Sachs Group Inc. increased its stake in shares of Enviva Partners by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,048,121 shares of the company’s stock valued at $22,765,000 after buying an additional 19,719 shares during the period. Blackstone Group L.P. raised its position in Enviva Partners by 48.6% in the second quarter. Blackstone Group L.P. now owns 646,395 shares of the company’s stock worth $14,712,000 after buying an additional 211,548 shares in the last quarter. UBS Group AG raised its position in Enviva Partners by 67.0% in the first quarter. UBS Group AG now owns 202,483 shares of the company’s stock worth $4,398,000 after buying an additional 81,247 shares in the last quarter. Van ECK Associates Corp raised its position in Enviva Partners by 2.7% in the second quarter. Van ECK Associates Corp now owns 184,484 shares of the company’s stock worth $4,199,000 after buying an additional 4,858 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Enviva Partners during the first quarter worth $2,085,000.
Enviva Partners Company Profile
Enviva Partners, LP is a producer of wood pellets. The Company, through its interests in Enviva, LP and Enviva GP, LLC, supplies utility-grade wood pellets to power generators under long-term, take-or-pay off-take contracts. The Company procures wood fiber and processes it into utility-grade wood pellets.
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