Zacks Investment Research upgraded shares of Enviva Partners (NYSE:EVA) from a hold rating to a buy rating in a report published on Thursday morning. The firm currently has $31.00 price objective on the energy company’s stock.

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. “

EVA has been the subject of a number of other reports. TheStreet lowered Enviva Partners from a b- rating to a c rating in a research report on Tuesday, November 14th. Citigroup upgraded Enviva Partners from a neutral rating to a buy rating and set a $34.00 price target for the company in a research report on Friday, September 22nd. Finally, Royal Bank of Canada reiterated a buy rating on shares of Enviva Partners in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Enviva Partners currently has an average rating of Buy and a consensus target price of $32.67.

Shares of Enviva Partners (NYSE EVA) opened at $28.00 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.52 and a quick ratio of 1.03. The stock has a market capitalization of $736.89 and a P/E ratio of 186.67. Enviva Partners has a 52-week low of $24.60 and a 52-week high of $31.95.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.615 per share. This represents a $2.46 dividend on an annualized basis and a yield of 8.79%. This is a boost from Enviva Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Tuesday, November 14th. Enviva Partners’s dividend payout ratio is 1,640.00%.

A number of large investors have recently added to or reduced their stakes in EVA. Marshall Wace North America L.P. acquired a new position in Enviva Partners during the second quarter worth $790,000. HITE Hedge Asset Management LLC lifted its stake 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 in the last quarter. Usca Ria LLC lifted its stake 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 in the last quarter. Baldwin Investment Management LLC lifted its stake 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 in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of Enviva Partners by 7.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 33,150 shares of the energy company’s stock valued at $912,000 after acquiring an additional 2,200 shares in 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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