Enviva Partners, LP (EVA) Upgraded to Buy by Citigroup Inc.
Enviva Partners, LP (NYSE:EVA) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.
A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $33.00 target price on shares of Enviva Partners, in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Enviva Partners, from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Enviva Partners, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Enviva Partners, presently has a consensus rating of “Buy” and an average price target of $30.50.
Shares of Enviva Partners, (NYSE EVA) opened at 28.75 on Friday. The firm has a market capitalization of $756.59 million, a P/E ratio of 51.71 and a beta of 1.18. Enviva Partners, has a 12 month low of $24.45 and a 12 month high of $29.85. The firm’s 50-day moving average price is $28.88 and its 200 day moving average price is $28.88.
Enviva Partners, (NYSE:EVA) last announced its earnings results on Thursday, August 3rd. The energy company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). Enviva Partners, had a net margin of 2.38% and a return on equity of 8.49%. The business had revenue of $126.90 million during the quarter, compared to analysts’ expectations of $142.08 million. During the same period in the previous year, the company posted $0.47 earnings per share. Enviva Partners,’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Enviva Partners, will post $1.05 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/09/22/enviva-partners-lp-eva-upgraded-to-buy-by-citigroup-inc.html.
Several institutional investors have recently modified their holdings of EVA. Winslow Evans & Crocker Inc. increased its stake in shares of Enviva Partners, by 28.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 5,825 shares of the energy company’s stock worth $161,000 after acquiring an additional 1,275 shares during the period. Roosevelt Investment Group Inc. acquired a new position in shares of Enviva Partners, during the first quarter worth about $209,000. UBS Group AG increased its stake in shares of Enviva Partners, by 3.2% during the first quarter. UBS Group AG now owns 9,784 shares of the energy company’s stock worth $275,000 after acquiring an additional 302 shares during the period. Bard Associates Inc. acquired a new position in shares of Enviva Partners, during the second quarter worth about $321,000. Finally, Wells Fargo & Company MN increased its stake in shares of Enviva Partners, by 13.8% during the first quarter. Wells Fargo & Company MN now owns 20,419 shares of the energy company’s stock worth $574,000 after acquiring an additional 2,481 shares during the period.
About Enviva Partners,
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.
Receive News & Ratings for Enviva Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enviva Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.