Enviva Partners, LP (EVA) Hits New 1-Year High at $30.70
Shares of Enviva Partners, LP (NYSE:EVA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $30.70 and last traded at $30.55, with a volume of 27,985 shares changing hands. The stock had previously closed at $30.25.
A number of research firms have recently issued reports on EVA. Zacks Investment Research upgraded Enviva Partners, from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub upgraded Enviva Partners, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Citigroup Inc. upgraded Enviva Partners, from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, September 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $33.00 target price on shares of Enviva Partners, in a report on Tuesday, June 20th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.50.
The stock has a 50 day moving average of $29.27 and a 200 day moving average of $29.27. The stock has a market capitalization of $802.64 million, a price-to-earnings ratio of 54.86 and a beta of 1.17.
Enviva Partners, (NYSE:EVA) last announced its earnings results on Thursday, August 3rd. The energy company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.22). The company had revenue of $126.90 million during the quarter, compared to analyst estimates of $142.08 million. Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. Enviva Partners,’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Equities research analysts predict that Enviva Partners, LP will post $0.77 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baldwin Investment Management LLC boosted its stake in Enviva Partners, by 2.9% in the 2nd quarter. Baldwin Investment Management LLC now owns 39,200 shares of the energy company’s stock worth $1,078,000 after purchasing an additional 1,100 shares during the period. HITE Hedge Asset Management LLC boosted its stake in Enviva Partners, by 81.6% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 46,583 shares of the energy company’s stock worth $1,281,000 after purchasing an additional 20,927 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in Enviva Partners, by 28.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,825 shares of the energy company’s stock worth $161,000 after purchasing an additional 1,275 shares during the period. Wells Fargo & Company MN boosted its stake in Enviva Partners, by 13.8% in the 1st quarter. Wells Fargo & Company MN now owns 20,419 shares of the energy company’s stock worth $574,000 after purchasing an additional 2,481 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Enviva Partners, in the 2nd quarter worth $790,000.
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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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