Enviva Partners, LP (EVA) Lifted to Buy at Zacks Investment Research
Enviva Partners, LP (NYSE:EVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $33.00 price objective on the energy company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.44% from the company’s current price.
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. “
EVA has been the subject of several other research reports. Citigroup Inc. upgraded Enviva Partners, from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, September 22nd. BidaskClub upgraded Enviva Partners, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Enviva Partners, presently has an average rating of “Buy” and a consensus price target of $33.33.
Enviva Partners, (NYSE:EVA) traded up $0.35 during midday trading on Friday, reaching $29.35. The company’s stock had a trading volume of 44,330 shares, compared to its average volume of 106,431. The firm has a market cap of $418.68 million, a PE ratio of 44.01 and a beta of 1.11.
Enviva Partners, (NYSE:EVA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.22). The firm had revenue of $126.90 million for the quarter, compared to analysts’ expectations of $142.08 million. Enviva Partners, had a net margin of 0.96% and a return on equity of 6.46%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. equities analysts anticipate that Enviva Partners, will post 0.88 EPS for the current year.
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Several large investors have recently bought and sold shares of EVA. Goldman Sachs Group Inc. lifted its stake in shares of Enviva Partners, by 18.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,148,071 shares of the energy company’s stock valued at $32,260,000 after purchasing an additional 176,082 shares during the last quarter. Ardsley Advisory Partners bought a new stake in shares of Enviva Partners, in the 2nd quarter valued at approximately $3,238,000. Cetera Investment Advisers bought a new stake in shares of Enviva Partners, in the 2nd quarter valued at approximately $989,000. Marshall Wace North America L.P. bought a new stake in shares of Enviva Partners, in the 2nd quarter valued at approximately $790,000. Finally, Tocqueville Asset Management L.P. lifted its stake in shares of Enviva Partners, by 26.6% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 102,300 shares of the energy company’s stock valued at $3,023,000 after purchasing an additional 21,500 shares during the last quarter.
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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