Enviva Partners, LP (EVA) Given Consensus Recommendation of “Buy” by Brokerages
Enviva Partners, LP (NYSE:EVA) has received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $29.00.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Enviva Partners, from a “hold” rating to a “strong sell” rating in a research report on Friday, May 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Enviva Partners, in a research report on Thursday, April 13th. Finally, TheStreet upgraded shares of Enviva Partners, from a “c” rating to a “b-” rating in a research report on Wednesday, May 17th.
In related news, Director William K. Reilly bought 5,500 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were bought at an average cost of $27.68 per share, for a total transaction of $152,240.00. Following the transaction, the director now owns 23,598 shares of the company’s stock, valued at $653,192.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVA. Ameriprise Financial Inc. boosted its stake in 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 last quarter. Roosevelt Investment Group Inc. bought a new stake in Enviva Partners, during the first quarter worth $209,000. Raymond James Financial Services Advisors Inc. boosted its stake in Enviva Partners, by 4.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 37,171 shares of the energy company’s stock worth $1,045,000 after buying an additional 1,433 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its stake in Enviva Partners, by 30.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 54,715 shares of the energy company’s stock worth $1,537,000 after buying an additional 12,615 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Enviva Partners, during the first quarter worth $2,270,000.
Shares of Enviva Partners, (NYSE EVA) opened at 28.0481 on Monday. Enviva Partners, has a one year low of $21.02 and a one year high of $30.60. The stock has a market capitalization of $738.11 million, a P/E ratio of 31.8006 and a beta of 1.17. The company’s 50-day moving average is $27.67 and its 200-day moving average is $27.75.
Enviva Partners, (NYSE:EVA) last posted its quarterly earnings data on Wednesday, May 10th. The energy company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.29. Enviva Partners, had a net margin of 4.13% and a return on equity of 10.85%. The firm had revenue of $122.10 million during the quarter, compared to analysts’ expectations of $139.30 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Enviva Partners, will post $1.12 earnings per share for the current year.
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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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