Enviva Partners LP (EVA) Upgraded at TheStreet
Enviva Partners LP (NYSE:EVA) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a research note issued on Wednesday.
EVA has been the topic of a number of other research reports. Zacks Investment Research lowered Enviva Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, May 12th. Royal Bank of Canada reissued an “outperform” rating and set a $33.00 price target (up previously from $29.00) on shares of Enviva Partners in a research note on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.
Enviva Partners (NYSE:EVA) traded down 1.1559% during midday trading on Wednesday, reaching $27.7752. The company’s stock had a trading volume of 34,327 shares. Enviva Partners has a 1-year low of $19.31 and a 1-year high of $30.60. The firm has a market cap of $730.93 million, a price-to-earnings ratio of 31.4912 and a beta of 1.17. The company has a 50 day moving average price of $28.51 and a 200 day moving average price of $27.72.
Enviva Partners (NYSE:EVA) last announced its earnings results on Wednesday, May 10th. The energy company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.29. The company had revenue of $122.10 million for the quarter, compared to analyst estimates of $139.30 million. Enviva Partners had a net margin of 9.16% and a return on equity of 12.79%. Enviva Partners’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. On average, equities research analysts expect that Enviva Partners will post $1.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date is Tuesday, May 16th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.54. Enviva Partners’s dividend payout ratio is currently 138.07%.
Hedge funds and other institutional investors have recently modified their holdings of the company. James Investment Research Inc. raised its position in shares of Enviva Partners by 0.4% in the first quarter. James Investment Research Inc. now owns 103,530 shares of the energy company’s stock worth $2,909,000 after buying an additional 420 shares in the last quarter. Navellier & Associates Inc acquired a new position in shares of Enviva Partners during the first quarter worth $623,000. Usca Ria LLC raised its position in shares of Enviva Partners by 12.9% in the third quarter. Usca Ria LLC now owns 69,900 shares of the energy company’s stock worth $1,887,000 after buying an additional 8,000 shares in the last quarter. Blackstone Group L.P. raised its position in shares of Enviva Partners by 66.5% in the third quarter. Blackstone Group L.P. now owns 1,075,939 shares of the energy company’s stock worth $29,039,000 after buying an additional 429,544 shares in the last quarter. Finally, Cetera Advisors LLC raised its position in shares of Enviva Partners by 91.8% in the third quarter. Cetera Advisors LLC now owns 20,265 shares of the energy company’s stock worth $548,000 after buying an additional 9,700 shares in the last quarter.
Enviva Partners Company Profile
Enviva Partners, LP is a supplier of utility-grade wood pellets to power generators. The Company procures wood fiber and processes it into utility-grade wood pellets and loads the finished wood pellets into railcars, trucks and barges that are transported to deep-water marine terminals, where they are received, stored and loaded onto oceangoing vessels for transport to the Company’s principally Northern European customers.
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