Enviva Partners LP (EVA) Coverage Initiated by Analysts at Goldman Sachs Group Inc.
Analysts at Goldman Sachs Group Inc. began coverage on shares of Enviva Partners LP (NYSE:EVA) in a research note issued to investors on Thursday. The firm set a “neutral” rating on the stock.
Several other research analysts also recently commented on the stock. Citigroup Inc. downgraded shares of Enviva Partners to an “outperform” rating and set a $24.00 target price on the stock. in a report on Thursday, July 14th. DA Davidson started coverage on shares of Enviva Partners in a report on Tuesday, July 19th. They issued a “buy” rating and a $28.00 target price on the stock. Raymond James Financial Inc. downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price on the stock. in a report on Thursday, July 14th. Zacks Investment Research upgraded shares of Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a report on Monday, August 8th. Finally, Drexel Hamilton started coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They issued a “buy” rating and a $28.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.29.
Enviva Partners (NYSE:EVA) opened at 26.50 on Thursday. The firm has a 50-day moving average of $24.88 and a 200-day moving average of $22.79. The company has a market cap of $656.46 million, a PE ratio of 19.95 and a beta of 1.31. Enviva Partners has a one year low of $11.85 and a one year high of $27.19.
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Enviva Partners (NYSE:EVA) last announced its earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts predict that Enviva Partners will post $1.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were issued a dividend of $0.525 per share. This is an increase from Enviva Partners’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 7.92%. Enviva Partners’s payout ratio is presently 159.09%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased 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 valued at $4,398,000 after buying an additional 81,247 shares during the last quarter. Acadian Asset Management LLC bought a new position in Enviva Partners during the first quarter valued at about $1,362,000. Goldman Sachs Group Inc. increased its position in 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 last quarter. GSA Capital Partners LLP increased its position in Enviva Partners by 390.3% in the second quarter. GSA Capital Partners LLP now owns 75,995 shares of the company’s stock valued at $1,730,000 after buying an additional 60,495 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Enviva Partners during the first quarter valued at about $2,085,000.
About Enviva Partners
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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