Enviva Partners LP (EVA) Sees Large Volume Increase
Enviva Partners LP (NYSE:EVA) saw unusually-high trading volume on Monday . Approximately 189,284 shares traded hands during trading, an increase of 74% from the previous session’s volume of 108,627 shares.The stock last traded at $24.58 and had previously closed at $23.56.
EVA has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Monday, May 9th. DA Davidson initiated coverage on shares of Enviva Partners in a research note on Tuesday, July 19th. They set a “buy” rating and a $28.00 price target on the stock. Citigroup Inc. downgraded shares of Enviva Partners to an “outperform” rating and set a $24.00 price target on the stock. in a research note on Thursday, July 14th. Drexel Hamilton initiated coverage on shares of Enviva Partners in a research note on Tuesday, June 7th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Raymond James Financial Inc. downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target on the stock. in a research note on Thursday, July 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.43.
The firm’s 50 day moving average is $22.37 and its 200 day moving average is $21.36. The stock has a market cap of $615.09 million and a price-to-earnings ratio of 18.50.
Enviva Partners (NYSE:EVA) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. During the same quarter in the prior year, the firm earned $0.24 EPS. The company had revenue of $119.70 million for the quarter, compared to analysts’ expectations of $123.17 million. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that Enviva Partners LP will post $1.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.525 per share. This is a boost from Enviva Partners’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 8.46%.
A hedge fund recently raised its stake in Enviva Partners stock. Wells Fargo & Company MN increased its stake in Enviva Partners LP (NYSE:EVA) by 85.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 386,762 shares of the company’s stock after buying an additional 178,678 shares during the period. Wells Fargo & Company MN owned about 1.62% of Enviva Partners worth $7,020,000 at the end of the most recent quarter.
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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