Royal Bank Of Canada Reaffirms Buy Rating for Enviva Partners, LP (EVA)
A number of other research analysts have also recently commented on the company. Citigroup Inc. upgraded Enviva Partners, from a neutral rating to a buy rating and set a $34.00 price objective on the stock in a research note on Friday, September 22nd. BidaskClub upgraded Enviva Partners, from a hold rating to a buy rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research upgraded Enviva Partners, from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Friday, November 3rd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $33.33.
Shares of Enviva Partners, (NYSE:EVA) traded up $0.10 during midday trading on Tuesday, reaching $29.05. The company had a trading volume of 54,921 shares, compared to its average volume of 78,062. Enviva Partners, has a 52-week low of $24.45 and a 52-week high of $31.95. The firm has a market cap of $420.12, a P/E ratio of 44.17 and a beta of 1.11. The company has a current ratio of 1.52, a quick ratio of 1.03 and a debt-to-equity ratio of 1.22.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 8.47%. This is a positive change from Enviva Partners,’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, November 14th. Enviva Partners,’s dividend payout ratio (DPR) is presently 5,701.43%.
A number of hedge funds have recently modified their holdings of EVA. Ardsley Advisory Partners purchased a new position in Enviva Partners, in the 2nd quarter valued at about $3,238,000. Goldman Sachs Group Inc. lifted its stake in shares of Enviva Partners, by 4.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,203,547 shares of the energy company’s stock worth $33,098,000 after acquiring an additional 55,476 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Enviva Partners, in the second quarter worth about $989,000. Marshall Wace North America L.P. purchased a new position in Enviva Partners, in the second quarter valued at about $790,000. Finally, Tocqueville Asset Management L.P. boosted its holdings in Enviva Partners, by 26.6% in the third quarter. Tocqueville Asset Management L.P. now owns 102,300 shares of the energy company’s stock valued at $3,023,000 after purchasing an additional 21,500 shares during the last quarter.
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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