Shares of Enviva Partners LP (NYSE:EVA) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $25.63.
Several equities research analysts have recently commented on the company. Goldman Sachs Group Inc. assumed coverage on Enviva Partners in a research note on Thursday. They issued a “neutral” rating and a $28.00 price objective for the company. Zacks Investment Research lowered Enviva Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Raymond James Financial Inc. lowered Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective for the company. in a research note on Thursday, July 14th. Drexel Hamilton assumed coverage on Enviva Partners in a research note on Tuesday, June 7th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Citigroup Inc. lowered Enviva Partners to an “outperform” rating and set a $24.00 price objective for the company. in a research note on Thursday, July 14th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in Enviva Partners during the second quarter valued at approximately $115,000. Emerald Acquisition Ltd. bought a new position in Enviva Partners during the second quarter valued at approximately $379,000. California Public Employees Retirement System bought a new position in Enviva Partners during the second quarter valued at approximately $392,000. Raymond James & Associates increased its position in Enviva Partners by 67.3% in the second quarter. Raymond James & Associates now owns 19,954 shares of the company’s stock valued at $454,000 after buying an additional 8,028 shares during the period. Finally, Allianz Asset Management AG bought a new position in Enviva Partners during the second quarter valued at approximately $636,000.
Shares of Enviva Partners (NYSE:EVA) opened at 26.11 on Tuesday. Enviva Partners has a 52-week low of $11.85 and a 52-week high of $27.19. The stock has a market cap of $646.80 million, a P/E ratio of 19.66 and a beta of 1.31. The firm’s 50-day moving average price is $24.98 and its 200-day moving average price is $22.81.
Enviva Partners (NYSE:EVA) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm earned $119.70 million during the quarter, compared to analyst estimates of $123.17 million. Enviva Partners had a return on equity of 10.54% and a net margin of 7.59%. Enviva Partners’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Equities analysts predict that Enviva Partners will post $1.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend was Thursday, August 11th. This is an increase from Enviva Partners’s previous quarterly dividend of $0.51. Enviva Partners’s dividend payout ratio is 159.09%.
Enviva Partners Company Profile
Enviva Partners, LP is a producer of wood pellets. The Company, through its interests in Enviva, LP and Enviva GP, LLC, supplies utility-grade wood pellets to power generators under long-term, take-or-pay off-take contracts. The Company procures wood fiber and processes it into utility-grade wood pellets.
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