Enviva Partners LP (EVA) Sees Unusually-High Trading Volume
Shares of Enviva Partners LP (NYSE:EVA) saw strong trading volume on Monday . 144,137 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 119,744 shares.The stock last traded at $23.35 and had previously closed at $23.00.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Enviva Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Raymond James Financial Inc. downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective for the company. in a report on Thursday, July 14th. Drexel Hamilton began coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They set a “buy” rating and a $28.00 price objective for the company. Citigroup Inc. downgraded shares of Enviva Partners to an “outperform” rating and set a $24.00 price objective for the company. in a report on Thursday, July 14th. Finally, DA Davidson began coverage on shares of Enviva Partners in a report on Tuesday, July 19th. They set a “buy” rating and a $28.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.00.
The company has a market capitalization of $583.88 million and a PE ratio of 17.75. The company’s 50-day moving average is $22.50 and its 200-day moving average is $21.60.
Enviva Partners (NYSE:EVA) last announced its earnings results on Thursday, August 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $119.70 million for the quarter, compared to analyst estimates of $123.17 million. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities analysts predict that Enviva Partners LP will post $1.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Shareholders 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 yield of 8.91%. This is an increase 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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