Enviva Partners LP (EVA) Trading Up 3.4%
Shares of Enviva Partners LP (NYSE:EVA) were 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 analysts have weighed in on EVA shares. DA Davidson started coverage on Enviva Partners in a report on Tuesday, July 19th. They set a “buy” rating and a $28.00 target price for the company. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, June 14th. Drexel Hamilton started coverage on Enviva Partners in a report on Tuesday, June 7th. They set a “buy” rating and a $28.00 target price for the company. Citigroup Inc. started coverage on Enviva Partners in a report on Friday, August 26th. They set a “neutral” rating and a $26.00 target price for the company. Finally, Raymond James Financial Inc. lowered Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price for the company. in a report on Thursday, July 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.29.
The stock has a 50-day moving average price of $23.23 and a 200 day moving average price of $22.09. The stock has a market capitalization of $625.99 million and a P/E ratio of 19.03.
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 Thomson Reuters’ consensus estimate of $0.42 by $0.05. The business earned $119.70 million during the quarter, compared to analyst estimates of $123.17 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Enviva Partners LP will post $1.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were paid a $0.525 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 8.30%. 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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