Enviva Partners LP (EVA) Stock Price Up 2.2%
Shares of Enviva Partners LP (NYSE:EVA) rose 2.2% on Tuesday . The company traded as high as $24.10 and last traded at $24.10, with a volume of 117,272 shares. The stock had previously closed at $23.57.
EVA has been the topic of a number of research reports. DA Davidson initiated coverage on Enviva Partners in a research report on Tuesday, July 19th. They set a “buy” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Monday, May 9th. Drexel Hamilton initiated coverage on Enviva Partners in a research report on Tuesday, June 7th. They set a “buy” rating and a $28.00 price target on the stock. Raymond James Financial Inc. cut Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target on the stock. in a research report on Thursday, July 14th. Finally, Citigroup Inc. cut Enviva Partners to an “outperform” rating and set a $24.00 price target on the stock. in a research report on Thursday, July 14th. 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’s 50 day moving average is $22.63 and its 200-day moving average is $21.64. The firm has a market cap of $597.01 million and a PE ratio of 18.15.
Enviva Partners (NYSE:EVA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. During the same period in the prior year, the business posted $0.24 earnings per share. The business earned $119.70 million during the quarter, compared to analyst estimates of $123.17 million. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Enviva Partners LP will post $1.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given a $0.525 dividend. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.51. This represents a $2.10 annualized dividend and a dividend yield of 8.71%. The ex-dividend date 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.