Enviva Partners, LP (NYSE:EVA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday, May 12th.
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. “
Separately, Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price objective on shares of Enviva Partners, in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $28.00.
Enviva Partners, (NYSE:EVA) traded up 1.99% during trading on Friday, hitting $28.20. The stock had a trading volume of 64,558 shares. Enviva Partners, has a 52-week low of $19.31 and a 52-week high of $30.60. The firm’s 50-day moving average price is $27.88 and its 200-day moving average price is $27.81. The company has a market cap of $742.11 million, a price-to-earnings ratio of 31.97 and a beta of 1.17.
Enviva Partners, (NYSE:EVA) last issued its quarterly earnings data on Wednesday, May 10th. The energy company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.29. Enviva Partners, had a return on equity of 10.85% and a net margin of 4.13%. The business had revenue of $122.10 million for the quarter, compared to analysts’ expectations of $139.30 million. During the same period last year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts predict that Enviva Partners, will post $1.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Thursday, May 18th were issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date was Tuesday, May 16th. This is a positive change from Enviva Partners,’s previous quarterly dividend of $0.54. Enviva Partners,’s dividend payout ratio (DPR) is 312.68%.
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Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of 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 period. Blackstone Group L.P. raised its position in shares of Enviva Partners, by 66.5% in the third quarter. Blackstone Group L.P. now owns 1,075,939 shares of the energy company’s stock worth $29,039,000 after buying an additional 429,544 shares during the period. Ameriprise Financial Inc. raised its position in shares of 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 period. Guggenheim Capital LLC acquired a new position in Enviva Partners, during the fourth quarter valued at $3,181,000. Finally, James Investment Research Inc. raised its position 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 valued at $2,909,000 after buying an additional 420 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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