Enviva Partners LP (NYSE:EVA) announced a quarterly dividend on Thursday, February 1st, Wall Street Journal reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.62 per share by the energy company on Wednesday, February 28th. This represents a $2.48 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Enviva Partners’s previous quarterly dividend of $0.62.
Enviva Partners has a payout ratio of 337.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enviva Partners to earn $1.55 per share next year, which means the company may not be able to cover its $2.46 annual dividend with an expected future payout ratio of 158.7%.
Shares of Enviva Partners (NYSE EVA) traded down $0.05 during trading hours on Thursday, reaching $28.60. The company had a trading volume of 28,791 shares, compared to its average volume of 46,004. Enviva Partners has a 1 year low of $24.60 and a 1 year high of $31.95. The company has a market cap of $756.63 and a P/E ratio of 190.33. 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 brokerages have commented on EVA. Royal Bank of Canada reiterated a “buy” rating on shares of Enviva Partners in a research report on Tuesday, November 7th. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Thursday, December 21st. Finally, TheStreet downgraded Enviva Partners from a “b-” rating to a “c” rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.67.
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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