Enviva Partners (EVA) Lowered to “Hold” at Zacks Investment Research

Enviva Partners (NYSE:EVA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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 topic of a number of other research reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Enviva Partners in a research report on Tuesday, November 7th. TheStreet lowered shares of Enviva Partners from a “b-” rating to a “c” rating in a report on Tuesday, November 14th. Finally, Citigroup raised shares of Enviva Partners from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Friday, September 22nd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.67.

Enviva Partners (EVA) traded up $0.05 during midday trading on Friday, reaching $28.00. 19,029 shares of the company’s stock were exchanged, compared to its average volume of 75,119. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.52 and a quick ratio of 1.03. Enviva Partners has a 1 year low of $24.60 and a 1 year high of $31.95. The firm has a market capitalization of $399.94, a PE ratio of 700.18 and a beta of 1.09.

A number of institutional investors have recently added to or reduced their stakes in EVA. California Public Employees Retirement System increased its stake in shares of Enviva Partners by 13.6% in the 3rd quarter. California Public Employees Retirement System now owns 31,007 shares of the energy company’s stock valued at $916,000 after acquiring an additional 3,707 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in Enviva Partners during the 3rd quarter worth approximately $251,000. Ameriprise Financial Inc. increased its stake in Enviva Partners by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 229,549 shares of the energy company’s stock worth $6,784,000 after purchasing an additional 2,500 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Enviva Partners by 26.6% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 102,300 shares of the energy company’s stock worth $3,023,000 after purchasing an additional 21,500 shares in the last quarter. Finally, Emerald Advisers Inc. PA bought a new stake in Enviva Partners during the 3rd quarter worth approximately $203,000.

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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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