Enviva Partners LP (EVA) Trading 1.9% Higher
Enviva Partners LP (NYSE:EVA)’s share price traded up 1.9% on Monday . The company traded as high as $24.86 and last traded at $24.72, with a volume of 199,302 shares traded. The stock had previously closed at $24.26.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Monday, August 8th. DA Davidson assumed coverage on shares of Enviva Partners in a research report on Tuesday, July 19th. They set a “buy” rating and a $28.00 target price on the stock. Raymond James Financial Inc. downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price on the stock. in a research report on Thursday, July 14th. Citigroup Inc. downgraded shares of Enviva Partners to an “outperform” rating and set a $24.00 target price on the stock. in a research report on Thursday, July 14th. Finally, Drexel Hamilton assumed coverage on shares of Enviva Partners in a research report on Tuesday, June 7th. They set a “buy” rating and a $28.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.00.
The stock has a market capitalization of $605.43 million and a P/E ratio of 18.40. The stock’s 50 day moving average price is $22.89 and its 200-day moving average price is $21.84.
Enviva Partners (NYSE:EVA) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. During the same period in the prior year, the business earned $0.24 earnings per share. The firm had revenue of $119.70 million for the quarter, compared to the consensus estimate of $123.17 million. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Enviva Partners LP will post $1.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, August 11th. This is a boost 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 8.55%.
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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