Enviva Partners, LP (EVA) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Enviva Partners, LP (NYSE:EVA) from a hold rating to a buy rating in a report issued on Saturday morning.
EVA has been the topic of a number of other reports. Royal Bank Of Canada reissued a buy rating and set a $33.00 price objective on shares of Enviva Partners, in a report on Tuesday, June 20th. Zacks Investment Research raised shares of Enviva Partners, from a strong sell rating to a hold rating in a report on Tuesday, July 11th. Finally, TheStreet raised shares of Enviva Partners, from a c rating to a b- rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $29.00.
Enviva Partners, (NYSE:EVA) traded up 1.53% during trading on Friday, hitting $29.90. The stock had a trading volume of 53,185 shares. Enviva Partners, has a 52-week low of $21.89 and a 52-week high of $30.60. The firm has a market cap of $786.85 million, a PE ratio of 33.90 and a beta of 1.18. The company’s 50 day moving average is $27.94 and its 200 day moving average is $27.96.
Enviva Partners, (NYSE:EVA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.22. The company had revenue of $126.90 million for the quarter, compared to analysts’ expectations of $142.08 million. Enviva Partners, had a net margin of 2.38% and a return on equity of 8.32%. Enviva Partners,’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Equities research analysts forecast that Enviva Partners, will post $1.12 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Enviva Partners,’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.63%. Enviva Partners,’s payout ratio is 634.30%.
In related news, Director William K. Reilly acquired 5,500 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average cost of $27.68 per share, with a total value of $152,240.00. Following the completion of the acquisition, the director now directly owns 23,598 shares of the company’s stock, valued at $653,192.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
A number of large investors have recently bought and sold shares of EVA. Cypress Capital Management LLC WY raised its stake in Enviva Partners, by 13.1% in the first quarter. Cypress Capital Management LLC WY now owns 5,195 shares of the energy company’s stock valued at $146,000 after buying an additional 600 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Enviva Partners, by 28.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 5,825 shares of the energy company’s stock valued at $161,000 after buying an additional 1,275 shares during the last quarter. Roosevelt Investment Group Inc. acquired a new stake in Enviva Partners, during the first quarter valued at approximately $209,000. UBS Group AG raised its stake in Enviva Partners, by 3.2% in the first quarter. UBS Group AG now owns 9,784 shares of the energy company’s stock valued at $275,000 after buying an additional 302 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Enviva Partners, by 13.8% in the first quarter. Wells Fargo & Company MN now owns 20,419 shares of the energy company’s stock valued at $574,000 after buying an additional 2,481 shares during the last quarter.
Enviva Partners, Company Profile
Enviva Partners, LP is a supplier of utility-grade wood pellets to power generators. The Company procures wood fiber and processes it into utility-grade wood pellets and loads the finished wood pellets into railcars, trucks and barges that are transported to deep-water marine terminals, where they are received, stored and loaded onto oceangoing vessels for transport to the Company’s principally Northern European customers.
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