Enviva Partners LP (EVA) Receives Consensus Rating of “Buy” from Analysts
Shares of Enviva Partners LP (NYSE:EVA) have been given a consensus rating of “Buy” by the seven research firms that are covering the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.60.
A number of research analysts have weighed in on the stock. DA Davidson reissued a “buy” rating on shares of Enviva Partners in a research note on Tuesday, November 8th. Zacks Investment Research lowered shares of Enviva Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Citigroup Inc. began coverage on shares of Enviva Partners in a research report on Friday, August 26th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, Goldman Sachs Group Inc. began coverage on shares of Enviva Partners in a research report on Thursday, September 22nd. They set a “neutral” rating and a $28.00 price target on the stock.
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A number of hedge funds have recently made changes to their positions in EVA. Cetera Advisors LLC raised its stake in shares of Enviva Partners by 91.8% in the third quarter. Cetera Advisors LLC now owns 20,265 shares of the company’s stock worth $548,000 after buying an additional 9,700 shares during the last quarter. Usca Ria LLC raised its stake in shares of Enviva Partners by 12.9% in the third quarter. Usca Ria LLC now owns 69,900 shares of the company’s stock worth $1,887,000 after buying an additional 8,000 shares during the last quarter. Blackstone Group L.P. raised its stake in shares of Enviva Partners by 66.5% in the third quarter. Blackstone Group L.P. now owns 1,075,939 shares of the company’s stock worth $29,039,000 after buying an additional 429,544 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Enviva Partners during the third quarter worth about $358,000. Finally, CG Asset Management LLC purchased a new stake in shares of Enviva Partners during the third quarter worth about $1,199,000.
Shares of Enviva Partners (NYSE:EVA) traded down 0.36% during mid-day trading on Tuesday, reaching $27.90. The company’s stock had a trading volume of 28,426 shares. The stock has a 50 day moving average of $27.08 and a 200-day moving average of $24.70. The stock has a market cap of $699.06 million, a P/E ratio of 19.82 and a beta of 1.29. Enviva Partners has a one year low of $13.40 and a one year high of $29.85.
Enviva Partners (NYSE:EVA) last released its earnings results on Thursday, November 3rd. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.01. Enviva Partners had a return on equity of 12.79% and a net margin of 9.16%. The business earned $109.80 million during the quarter, compared to analysts’ expectations of $124.87 million. During the same period last year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities research analysts expect that Enviva Partners will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend is Wednesday, November 9th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.53. Enviva Partners’s payout ratio is presently 136.78%.
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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