Enviva Partners LP (EVA) Trading 3.4% Higher
Enviva Partners LP (NYSE:EVA)’s share price traded up 3.4% on Monday . The company traded as high as $25.33 and last traded at $25.28, with a volume of 146,991 shares. The stock had previously closed at $24.44.
A number of equities analysts recently weighed in on the stock. Citigroup Inc. assumed coverage on shares of Enviva Partners in a report on Friday. They issued a “neutral” rating and a $26.00 price target 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 price target on the stock in a report on Monday, August 8th. DA Davidson assumed coverage on shares of Enviva Partners in a report on Tuesday, July 19th. They issued a “buy” rating and a $28.00 price target 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 price target on the stock. in a report on Thursday, July 14th. Finally, Drexel Hamilton initiated coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They issued a “buy” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Enviva Partners currently has an average rating of “Buy” and an average price target of $25.29.
The stock has a 50 day moving average price of $23.07 and a 200 day moving average price of $21.92. The stock has a market cap of $627.47 million and a PE ratio of 19.07.
Enviva Partners (NYSE:EVA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $119.70 million for the quarter, compared to the consensus estimate of $123.17 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. Enviva Partners’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Enviva Partners LP will post $1.83 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. The ex-dividend date is Thursday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 8.29%. This is a boost from Enviva Partners’s previous quarterly dividend of $0.51.
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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