ValuEngine cut shares of Enviva Partners (NYSE:EVA) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Enviva Partners from a hold rating to a strong-buy rating and set a $39.00 price objective on the stock in a research report on Saturday, November 2nd. Royal Bank of Canada set a $39.00 price objective on shares of Enviva Partners and gave the stock a buy rating in a research note on Monday, August 12th.

EVA stock opened at $34.77 on Tuesday. Enviva Partners has a twelve month low of $25.40 and a twelve month high of $36.04. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 60.63 and a beta of 0.87. The company has a quick ratio of 0.41, a current ratio of 0.72 and a debt-to-equity ratio of 2.29. The firm’s fifty day simple moving average is $33.57 and its two-hundred day simple moving average is $31.51.

Enviva Partners (NYSE:EVA) last released its earnings results on Wednesday, October 30th. The energy company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $157.41 million during the quarter, compared to analyst estimates of $177.40 million. As a group, equities research analysts expect that Enviva Partners will post 0.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid 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 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend was Thursday, November 14th. Enviva Partners’s dividend payout ratio (DPR) is currently 377.46%.

A number of institutional investors and hedge funds have recently bought and sold shares of EVA. NEXT Financial Group Inc grew its holdings in shares of Enviva Partners by 240.0% in 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 during the last quarter. Van ECK Associates Corp boosted its position in Enviva Partners by 2.1% in the 2nd quarter. Van ECK Associates Corp now owns 42,058 shares of the energy company’s stock valued at $1,321,000 after buying an additional 865 shares during the period. Wells Fargo & Company MN boosted its position in Enviva Partners by 6.5% in the 2nd quarter. Wells Fargo & Company MN now owns 16,400 shares of the energy company’s stock valued at $515,000 after buying an additional 998 shares during the period. Venturi Wealth Management LLC bought a new position in Enviva Partners in the 3rd quarter worth about $34,000. Finally, State Street Corp grew its stake in Enviva Partners by 7.3% in the 3rd quarter. State Street Corp now owns 17,485 shares of the energy company’s stock worth $559,000 after acquiring an additional 1,183 shares in the last quarter.

About Enviva Partners

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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