Enviva Partners (EVA) Upgraded to “Buy” at Zacks Investment Research
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.
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.
TRADEMARK VIOLATION NOTICE: “Enviva Partners (EVA) Upgraded to “Buy” at Zacks Investment Research” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.watchlistnews.com/enviva-partners-eva-upgraded-to-buy-at-zacks-investment-research/1782245.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Enviva Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enviva Partners and related companies with MarketBeat.com's FREE daily email newsletter.