Zacks Investment Research lowered shares of Enviva Partners (NYSE:EVA) from a buy rating to a hold rating in a research note published on Tuesday.

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. “

Several other brokerages have also recently weighed in on EVA. Citigroup upgraded Enviva Partners from a neutral rating to a buy rating and set a $34.00 price objective for the company in a report on Friday, September 22nd. TheStreet cut Enviva Partners from a b- rating to a c rating in a report on Tuesday, November 14th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Enviva Partners in a report on Tuesday, November 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $33.33.

Shares of Enviva Partners (NYSE:EVA) traded down $0.20 during midday trading on Tuesday, hitting $27.30. The stock had a trading volume of 37,800 shares, compared to its average volume of 75,672. The company has a market cap of $396.34, a PE ratio of 41.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.52 and a quick ratio of 1.03. Enviva Partners has a 12 month low of $24.60 and a 12 month high of $31.95.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th were issued a dividend of $0.615 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.46 dividend on an annualized basis and a yield of 9.01%. This is a boost from Enviva Partners’s previous quarterly dividend of $0.57. Enviva Partners’s dividend payout ratio (DPR) is presently 6,151.54%.

A number of institutional investors have recently bought and sold shares of EVA. Marshall Wace North America L.P. bought a new position in Enviva Partners during the second quarter worth about $790,000. HITE Hedge Asset Management LLC grew its holdings in Enviva Partners by 81.6% during the second quarter. HITE Hedge Asset Management LLC now owns 46,583 shares of the energy company’s stock worth $1,281,000 after purchasing an additional 20,927 shares during the period. Usca Ria LLC grew its holdings in Enviva Partners by 5.2% during the second quarter. Usca Ria LLC now owns 70,485 shares of the energy company’s stock worth $1,938,000 after purchasing an additional 3,510 shares during the period. Baldwin Investment Management LLC grew its holdings in Enviva Partners by 2.9% during the second quarter. Baldwin Investment Management LLC now owns 39,200 shares of the energy company’s stock worth $1,078,000 after purchasing an additional 1,100 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its position in Enviva Partners by 7.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 33,150 shares of the energy company’s stock worth $912,000 after acquiring an additional 2,200 shares during the last quarter.

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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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