Kayne Anderson Capital Advisors LP increased its position in shares of Enviva Partners LP (NYSE:EVA) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 505,021 shares of the energy company’s stock after purchasing an additional 33,982 shares during the period. Kayne Anderson Capital Advisors LP owned approximately 1.51% of Enviva Partners worth $16,132,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVA. North Star Investment Management Corp. raised its holdings in Enviva Partners by 16.5% during the second quarter. North Star Investment Management Corp. now owns 211,190 shares of the energy company’s stock worth $6,636,000 after purchasing an additional 29,961 shares in the last quarter. NEXT Financial Group Inc raised its holdings in Enviva Partners by 240.0% during the second quarter. NEXT Financial Group Inc now owns 850 shares of the energy company’s stock worth $27,000 after purchasing an additional 600 shares in the last quarter. Riverstone Holdings LLC raised its holdings in Enviva Partners by 14.1% during the second quarter. Riverstone Holdings LLC now owns 13,586,375 shares of the energy company’s stock worth $426,884,000 after purchasing an additional 1,681,237 shares in the last quarter. First Trust Advisors LP raised its holdings in Enviva Partners by 2.9% during the second quarter. First Trust Advisors LP now owns 153,406 shares of the energy company’s stock worth $4,820,000 after purchasing an additional 4,347 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in Enviva Partners by 21.8% during the second quarter. Wedbush Securities Inc. now owns 9,198 shares of the energy company’s stock worth $289,000 after purchasing an additional 1,647 shares in the last quarter.
EVA traded up $0.15 on Friday, hitting $35.14. 19,904 shares of the company were exchanged, compared to its average volume of 53,986. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.41 and a current ratio of 0.72. The business’s fifty day moving average is $32.11 and its 200 day moving average is $31.29. Enviva Partners LP has a fifty-two week low of $25.40 and a fifty-two week high of $35.82. The firm has a market capitalization of $1.17 billion, a P/E ratio of 49.49 and a beta of 0.87.
Enviva Partners (NYSE:EVA) last issued its earnings results on Wednesday, October 30th. The energy company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.13. Enviva Partners had a net margin of 0.85% and a return on equity of 13.79%. The company had revenue of $157.41 million for the quarter, compared to analyst estimates of $177.40 million. Analysts forecast that Enviva Partners LP will post 0.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.67 per share. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Thursday, November 14th. Enviva Partners’s dividend payout ratio is presently 371.83%.
Several brokerages have weighed in on EVA. Zacks Investment Research upgraded shares of Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Saturday, November 2nd. Royal Bank of Canada set a $39.00 target price on shares of Enviva Partners and gave the stock a “buy” rating in a research report on Monday, August 12th.
Enviva Partners Profile
Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and large-scale power generators in the United Kingdom and other European markets. Enviva Partners GP, LLC operates as the general partner of the company. Enviva Partners, LP was founded in 2013 and is based in Bethesda, Maryland.
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