Zacks Investment Research Lowers Enviva Partners, LP (NYSE:EVA) to Strong Sell
Zacks Investment Research cut shares of Enviva Partners, LP (NYSE:EVA) from a hold rating to a strong sell rating in a report issued on Monday morning.
According to Zacks, “Enviva Partners, LP is a master limited partnership which owns and operates wood pellet production plants. It serves primarily in the United States and Europe. Enviva Partners, LP is based in Bethesa, United States. “
A number of other equities research analysts have also recently weighed in on EVA. BidaskClub upgraded shares of Enviva Partners, from a hold rating to a buy rating in a report on Saturday. Royal Bank Of Canada restated a buy rating and issued a $33.00 price objective on shares of Enviva Partners, in a report on Tuesday, June 20th. Finally, TheStreet upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $29.00.
Enviva Partners, (EVA) traded down 0.17% during trading on Monday, reaching $29.70. The company’s stock had a trading volume of 13,574 shares. The firm has a market cap of $781.59 million, a PE ratio of 33.67 and a beta of 1.18. The company has a 50-day moving average of $27.94 and a 200 day moving average of $27.96. Enviva Partners, has a one year low of $21.89 and a one year high of $30.60.
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 the Zacks’ consensus estimate of $0.33 by $0.22. The business had revenue of $126.90 million during the quarter, compared to analysts’ expectations of $142.08 million. Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. Enviva Partners,’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. Analysts expect that Enviva Partners, will post $1.12 EPS for the current fiscal year.
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The company also recently declared 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. This is a boost from Enviva Partners,’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, August 11th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.66%. Enviva Partners,’s dividend payout ratio is presently 634.30%.
In other news, Director William K. Reilly purchased 5,500 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average price of $27.68 per share, for a total transaction of $152,240.00. Following the completion of the acquisition, the director now directly owns 23,598 shares in the company, valued at approximately $653,192.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in Enviva Partners, by 18.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,148,071 shares of the energy company’s stock worth $32,260,000 after buying an additional 176,082 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Enviva Partners, by 5.9% in the first quarter. Ameriprise Financial Inc. now owns 225,049 shares of the energy company’s stock worth $6,323,000 after buying an additional 12,500 shares during the last quarter. James Investment Research Inc. boosted its stake in Enviva Partners, by 0.4% in the first quarter. James Investment Research Inc. now owns 103,530 shares of the energy company’s stock worth $2,909,000 after buying an additional 420 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in Enviva Partners, during the first quarter worth approximately $2,270,000. Finally, Usca Ria LLC boosted its stake in Enviva Partners, by 5.2% in the second quarter. Usca Ria LLC now owns 70,485 shares of the energy company’s stock worth $1,938,000 after buying an additional 3,510 shares during the last quarter.
About Enviva Partners,
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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