Enviva Partners, LP (EVA) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Enviva Partners, LP (NYSE:EVA) have received an average recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.50.
A number of research analysts have recently issued reports on the company. BidaskClub raised Enviva Partners, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research raised Enviva Partners, from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Citigroup Inc. raised Enviva Partners, from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Friday, September 22nd.
Shares of Enviva Partners, (NYSE:EVA) opened at 30.00 on Wednesday. Enviva Partners, has a 1-year low of $24.45 and a 1-year high of $31.95. The company has a market capitalization of $789.48 million, a PE ratio of 53.96 and a beta of 1.17. The stock’s 50 day moving average price is $29.67 and its 200-day moving average price is $28.71.
Enviva Partners, (NYSE:EVA) last announced its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The business had revenue of $126.90 million for the quarter, compared to the consensus estimate of $142.08 million. Enviva Partners, had a net margin of 2.38% and a return on equity of 8.49%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities analysts predict that Enviva Partners, will post $0.77 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. lifted its holdings in Enviva Partners, by 28.0% in the second 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 during the period. Roosevelt Investment Group Inc. lifted its holdings in Enviva Partners, by 4.1% in the second quarter. Roosevelt Investment Group Inc. now owns 7,746 shares of the energy company’s stock valued at $213,000 after acquiring an additional 305 shares during the period. UBS Group AG lifted its holdings in Enviva Partners, by 3.2% in the first quarter. UBS Group AG now owns 9,784 shares of the energy company’s stock valued at $275,000 after acquiring an additional 302 shares during the period. Bard Associates Inc. bought a new position in Enviva Partners, in the second quarter valued at about $321,000. Finally, Wells Fargo & Company MN lifted its holdings in Enviva Partners, by 13.8% in the first 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 during the period.
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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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