Enviva Partners LP (EVA) Stock Price Down 3.4%
Enviva Partners LP (NYSE:EVA) traded down 3.4% on Thursday . The company traded as low as $23.51 and last traded at $23.65, with a volume of 57,054 shares trading hands. The stock had previously closed at $24.49.
A number of equities research analysts recently weighed in 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 for the company 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 issued a “buy” rating and a $28.00 price target for the company. Raymond James Financial Inc. cut shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target for the company. in a research report on Thursday, July 14th. Citigroup Inc. cut shares of Enviva Partners to an “outperform” rating and set a $24.00 price target for the company. in a research report on Thursday, July 14th. Finally, Drexel Hamilton initiated coverage on shares of Enviva Partners in a research report on Tuesday, June 7th. They issued a “buy” rating and a $28.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $25.00.
The firm has a market capitalization of $569.76 million and a price-to-earnings ratio of 17.32. The company’s 50 day moving average price is $22.47 and its 200 day moving average price is $21.50.
Enviva Partners (NYSE:EVA) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The firm had revenue of $119.70 million for the quarter, compared to analyst estimates of $123.17 million. Enviva Partners’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. Equities analysts anticipate that Enviva Partners LP will post $1.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 9.13%. This is an increase from Enviva Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend 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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