Enviva Partners, LP (EVA) Upgraded to Hold at Zacks Investment Research
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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.