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.

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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.

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