Enviva Partners LP (EVA) Reaches New 52-Week High at $25.61
Enviva Partners LP (NYSE:EVA) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $25.61 and last traded at $25.26, with a volume of 68,011 shares trading hands. The stock had previously closed at $25.32.
A number of brokerages have issued reports on EVA. Zacks Investment Research lowered shares of Enviva Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Raymond James Financial Inc. lowered shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target on the stock. in a research note on Thursday, July 14th. Drexel Hamilton began coverage on shares of Enviva Partners in a research note on Tuesday, June 7th. They set a “buy” rating and a $28.00 price target on the stock. Citigroup Inc. lowered shares of Enviva Partners to an “outperform” rating and set a $24.00 price target on the stock. in a research note on Thursday, July 14th. Finally, DA Davidson began coverage on shares of Enviva Partners in a research note on Tuesday, July 19th. They set a “buy” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Enviva Partners presently has an average rating of “Buy” and a consensus target price of $25.29.
The stock has a market cap of $626.24 million and a PE ratio of 19.04. The stock has a 50 day moving average price of $23.43 and a 200 day moving average price of $22.15.
Enviva Partners (NYSE:EVA) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.47 earnings per share 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 analysts’ expectations of $123.17 million. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, analysts anticipate that Enviva Partners LP will post $1.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were given a dividend of $0.525 per share. The ex-dividend date was Thursday, August 11th. This represents a $2.10 annualized dividend and a dividend yield of 8.31%. This is a positive change 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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