Enviva Partners LP (EVA) Stock Price Up 1.9%
Enviva Partners LP (NYSE:EVA)’s share price rose 1.9% during mid-day trading on Monday . The stock traded as high as $24.86 and last traded at $24.72, with a volume of 199,302 shares. The stock had previously closed at $24.26.
EVA has been the topic of several research reports. Zacks Investment Research raised Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, May 9th. Drexel Hamilton initiated coverage on Enviva Partners in a research note on Tuesday, June 7th. They set a “buy” rating and a $28.00 target price on the stock. Citigroup Inc. lowered Enviva Partners to an “outperform” rating and set a $24.00 target price on the stock. in a research note on Thursday, July 14th. Raymond James Financial Inc. lowered Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price on the stock. in a research note on Thursday, July 14th. Finally, DA Davidson started coverage on Enviva Partners in a research note on Tuesday, July 19th. They set a “buy” rating and a $28.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $25.00.
The stock’s 50 day moving average price is $22.82 and its 200-day moving average price is $21.71. The company has a market cap of $609.39 million and a P/E ratio of 18.52.
Enviva Partners (NYSE:EVA) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The business earned $119.70 million during the quarter, compared to analysts’ expectations of $123.17 million. During the same period in the prior year, the firm earned $0.24 EPS. Enviva Partners’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Enviva Partners LP will post $1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given a $0.525 dividend. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.51. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.54%. The ex-dividend date is Thursday, August 11th.
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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