Enviva Partners, LP (NYSE:EVA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Enviva Partners, LP is a master limited partnership which owns and operates wood pellet production plants. It serves primarily in the United States and Europe. Enviva Partners, LP is based in Bethesa, United States. “

A number of other brokerages have also commented on EVA. Royal Bank Of Canada restated a “buy” rating and issued a $33.00 price target on shares of Enviva Partners, in a report on Tuesday, June 20th. BidaskClub upgraded Enviva Partners, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Citigroup Inc. upgraded Enviva Partners, from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Friday, September 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.50.

Enviva Partners, (NYSE EVA) traded up 0.85% during mid-day trading on Tuesday, reaching $29.80. 33,969 shares of the company’s stock traded hands. The stock has a market cap of $784.22 million, a P/E ratio of 53.60 and a beta of 1.17. The firm has a 50-day moving average price of $29.07 and a 200-day moving average price of $29.07. Enviva Partners, has a 1-year low of $24.45 and a 1-year high of $30.01.

Enviva Partners, (NYSE:EVA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.22). The firm had revenue of $126.90 million for the quarter, compared to the consensus estimate of $142.08 million. Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. Enviva Partners,’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. Equities research analysts anticipate that Enviva Partners, will post $0.77 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in EVA. Baldwin Investment Management LLC increased its stake in Enviva Partners, by 2.9% in the 2nd quarter. Baldwin Investment Management LLC now owns 39,200 shares of the energy company’s stock valued at $1,078,000 after buying an additional 1,100 shares during the last quarter. Roosevelt Investment Group Inc. bought a new position in shares of Enviva Partners, in the 1st quarter valued at about $209,000. Winslow Evans & Crocker Inc. grew its holdings in shares of Enviva Partners, by 28.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,825 shares of the energy company’s stock valued at $161,000 after acquiring an additional 1,275 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in shares of Enviva Partners, by 81.6% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 46,583 shares of the energy company’s stock valued at $1,281,000 after acquiring an additional 20,927 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Enviva Partners, by 13.8% in the 1st quarter. Wells Fargo & Company MN now owns 20,419 shares of the energy company’s stock valued at $574,000 after acquiring an additional 2,481 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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