Enviva Partners LP (EVA) Sets New 12-Month High at $25.61
Enviva Partners LP (NYSE:EVA) reached a new 52-week high during trading on Friday . The stock traded as high as $25.61 and last traded at $25.26, with a volume of 68,011 shares traded. The stock had previously closed at $25.32.
Several research firms have commented on EVA. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research report on Monday, August 8th. DA Davidson initiated coverage on Enviva Partners in a research report on Tuesday, July 19th. They set a “buy” rating and a $28.00 target price on the stock. Raymond James Financial Inc. lowered Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price on the stock. in a research report on Thursday, July 14th. Citigroup Inc. lowered Enviva Partners to an “outperform” rating and set a $24.00 target price on the stock. in a research report on Thursday, July 14th. Finally, Drexel Hamilton initiated coverage on Enviva Partners in a research report on Tuesday, June 7th. They set a “buy” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.29.
The stock has a market capitalization of $626.24 million and a PE ratio of 19.04. The company’s 50-day moving average is $23.36 and its 200-day moving average is $22.13.
Enviva Partners (NYSE:EVA) last released its quarterly 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. During the same period last year, the firm earned $0.24 EPS. The firm had revenue of $119.70 million for the quarter, compared to analyst estimates of $123.17 million. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Enviva Partners LP will post $1.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 8.31%. This is a boost from Enviva Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was 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.