Enviva Partners, LP (EVA) Raised to “Buy” at Citigroup Inc.
Enviva Partners, LP (NYSE:EVA) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Enviva Partners, from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. BidaskClub raised shares of Enviva Partners, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $33.00 target price on shares of Enviva Partners, in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Enviva Partners, currently has a consensus rating of “Buy” and an average target price of $30.50.
Shares of Enviva Partners, (NYSE:EVA) opened at 28.75 on Friday. The stock has a 50 day moving average of $28.88 and a 200-day moving average of $28.88. The stock has a market capitalization of $756.59 million, a P/E ratio of 51.71 and a beta of 1.18. Enviva Partners, has a 1-year low of $24.45 and a 1-year high of $29.85.
Enviva Partners, (NYSE:EVA) last released its earnings results on Thursday, August 3rd. The energy company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.22). Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. The company had revenue of $126.90 million during the quarter, compared to analyst estimates of $142.08 million. During the same period in the prior year, the business posted $0.47 earnings per share. Enviva Partners,’s revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that Enviva Partners, will post $1.05 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of EVA. Goldman Sachs Group Inc. raised its holdings 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 valued at $32,260,000 after buying an additional 176,082 shares during the period. Ardsley Advisory Partners purchased a new position in Enviva Partners, in the second quarter valued at approximately $3,238,000. Cetera Investment Advisers purchased a new position in Enviva Partners, in the second quarter valued at approximately $989,000. Marshall Wace North America L.P. purchased a new position in Enviva Partners, in the second quarter valued at approximately $790,000. Finally, HITE Hedge Asset Management LLC raised its holdings in Enviva Partners, by 81.6% in the second quarter. HITE Hedge Asset Management LLC now owns 46,583 shares of the energy company’s stock valued at $1,281,000 after buying an additional 20,927 shares during the period.
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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