Enviva Partners LP (EVA) Rating Reiterated by DA Davidson
Enviva Partners LP (NYSE:EVA)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research report issued to clients and investors on Tuesday.
Other research analysts also recently issued reports about the company. Goldman Sachs Group Inc. initiated coverage on Enviva Partners in a research note on Thursday, September 22nd. They set a “neutral” rating and a $28.00 target price for the company. Citigroup Inc. initiated coverage on Enviva Partners in a research note on Friday, August 26th. They issued a “neutral” rating and a $26.00 price objective for the company. Raymond James Financial Inc. downgraded Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective for the company. in a research note on Thursday, July 14th. Finally, Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $26.43.
Enviva Partners (NYSE:EVA) opened at 27.70 on Tuesday. Enviva Partners has a 1-year low of $13.40 and a 1-year high of $29.85. The firm’s 50-day moving average is $27.22 and its 200 day moving average is $24.30. The stock has a market capitalization of $686.18 million, a price-to-earnings ratio of 20.86 and a beta of 1.29.
Enviva Partners (NYSE:EVA) last announced its earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The business had revenue of $109.80 million for the quarter, compared to analyst estimates of $124.87 million. Enviva Partners had a return on equity of 12.79% and a net margin of 9.16%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. Equities analysts anticipate that Enviva Partners will post $1.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, November 9th. This is a boost from Enviva Partners’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 7.67%. Enviva Partners’s dividend payout ratio is currently 135.48%.
Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its position in Enviva Partners by 67.0% in the first quarter. UBS Group AG now owns 202,483 shares of the company’s stock worth $4,398,000 after buying an additional 81,247 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Enviva Partners by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,048,121 shares of the company’s stock worth $22,765,000 after buying an additional 19,719 shares in the last quarter. GSA Capital Partners LLP boosted its position in Enviva Partners by 390.3% in the second quarter. GSA Capital Partners LLP now owns 75,995 shares of the company’s stock worth $1,730,000 after buying an additional 60,495 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in Enviva Partners by 35.4% in the second quarter. K.J. Harrison & Partners Inc now owns 67,700 shares of the company’s stock worth $1,541,000 after buying an additional 17,700 shares in the last quarter. Finally, Avenir Corp boosted its position in Enviva Partners by 6.2% in the second quarter. Avenir Corp now owns 91,816 shares of the company’s stock worth $2,090,000 after buying an additional 5,345 shares in the last quarter.
Enviva Partners Company Profile
Enviva Partners, LP is a producer of wood pellets. The Company, through its interests in Enviva, LP and Enviva GP, LLC, supplies utility-grade wood pellets to power generators under long-term, take-or-pay off-take contracts. The Company procures wood fiber and processes it into utility-grade wood pellets.
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