Enviva Partners (EVA) Downgraded by Zacks Investment Research

Enviva Partners (NYSE:EVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. TheStreet lowered Enviva Partners from a “b-” rating to a “c” rating in a research report on Tuesday, November 14th. Citigroup upgraded Enviva Partners from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Friday, September 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Enviva Partners in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Enviva Partners has a consensus rating of “Buy” and an average price target of $33.33.

Enviva Partners (NYSE EVA) traded down $0.15 during midday trading on Tuesday, reaching $27.40. The company had a trading volume of 79,134 shares, compared to its average volume of 76,015. The company has a market cap of $391.30, a price-to-earnings ratio of 41.14 and a beta of 1.09. Enviva Partners has a 1-year low of $24.60 and a 1-year high of $31.95. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.03 and a current ratio of 1.52.

A number of institutional investors and hedge funds have recently made changes to their positions in EVA. HITE Hedge Asset Management LLC boosted its position in Enviva Partners by 1.8% in the 4th quarter. HITE Hedge Asset Management LLC now owns 492,677 shares of the energy company’s stock valued at $8,942,000 after buying an additional 8,845 shares during the last quarter. American Century Companies Inc. boosted its position in Enviva Partners by 23.7% in the 4th quarter. American Century Companies Inc. now owns 289,044 shares of the energy company’s stock valued at $5,246,000 after buying an additional 55,404 shares during the last quarter. Wells Fargo & Company MN boosted its position in Enviva Partners by 85.9% in the 4th quarter. Wells Fargo & Company MN now owns 386,762 shares of the energy company’s stock valued at $7,020,000 after buying an additional 178,678 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Enviva Partners by 12.2% in the 4th quarter. Ameriprise Financial Inc. now owns 275,000 shares of the energy company’s stock valued at $4,991,000 after buying an additional 30,000 shares during the last quarter. Finally, Riverstone Holdings LLC boosted its position in Enviva Partners by 232.5% in the 4th quarter. Riverstone Holdings LLC now owns 1,347,161 shares of the energy company’s stock valued at $24,451,000 after buying an additional 942,023 shares during the last quarter.

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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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