K.J. Harrison & Partners Inc Boosts Stake in Enviva Partners LP (EVA)
K.J. Harrison & Partners Inc boosted its stake in Enviva Partners LP (NYSE:EVA) by 35.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,700 shares of the company’s stock after buying an additional 17,700 shares during the period. K.J. Harrison & Partners Inc’s holdings in Enviva Partners were worth $1,541,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Enviva Partners during the first quarter valued at about $1,362,000. UBS Group AG raised its position in Enviva Partners by 67.0% in the first quarter. UBS Group AG now owns 202,483 shares of the company’s stock valued at $4,398,000 after buying an additional 81,247 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Enviva Partners by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,048,121 shares of the company’s stock valued at $22,765,000 after buying an additional 19,719 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Enviva Partners during the first quarter valued at about $2,085,000.
Enviva Partners LP (NYSE:EVA) traded down 0.41% during midday trading on Wednesday, reaching $26.50. 111,577 shares of the company’s stock traded hands. The company has a market capitalization of $656.46 million, a PE ratio of 19.95 and a beta of 1.31. The firm’s 50 day moving average price is $24.75 and its 200-day moving average price is $22.76. Enviva Partners LP has a 1-year low of $11.85 and a 1-year high of $27.19.
Enviva Partners (NYSE:EVA) last released its earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Enviva Partners had a net margin of 7.59% and a return on equity of 10.54%. The firm earned $119.70 million during the quarter, compared to the consensus estimate of $123.17 million. During the same period in the previous year, the firm earned $0.24 earnings per share. Enviva Partners’s revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that Enviva Partners LP will post $1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.92%. This is an increase from Enviva Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, August 11th. Enviva Partners’s payout ratio is presently 159.09%.
EVA has been the topic of a number of research analyst reports. Drexel Hamilton initiated coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They set a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research raised shares of Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, June 14th. Citigroup Inc. lowered shares of Enviva Partners to an “outperform” rating and set a $24.00 price objective on the stock. in a report on Thursday, July 14th. Raymond James Financial Inc. lowered shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective on the stock. in a report on Thursday, July 14th. Finally, DA Davidson initiated coverage on shares of Enviva Partners in a report on Tuesday, July 19th. They set a “buy” rating and a $28.00 price objective on the stock. One investment 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. Enviva Partners currently has a consensus rating of “Buy” and a consensus target price of $25.29.
Enviva Partners Company Profile
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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