Enviva Partners Sees Unusually Large Options Volume (NYSE:EVA)

Enviva Partners, LP (NYSE:EVA) was the target of unusually large options trading activity on Thursday. Investors purchased 2,875 call options on the company. This is an increase of approximately 953% compared to the typical daily volume of 273 call options.

A number of analysts have recently weighed in on EVA shares. Citigroup increased their target price on shares of Enviva Partners from $55.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, November 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered shares of Enviva Partners from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a report on Thursday, December 9th. They noted that the move was a valuation call. Raymond James increased their target price on shares of Enviva Partners from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, January 4th. Royal Bank of Canada increased their target price on shares of Enviva Partners from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, October 18th. Finally, Barclays increased their target price on shares of Enviva Partners from $67.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Enviva Partners by 184.1% during the second quarter. FMR LLC now owns 2,623,067 shares of the energy company’s stock valued at $137,475,000 after purchasing an additional 1,699,723 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Enviva Partners by 45.0% during the second quarter. Kayne Anderson Capital Advisors LP now owns 1,607,102 shares of the energy company’s stock valued at $84,229,000 after purchasing an additional 498,472 shares during the last quarter. Gagnon Securities LLC purchased a new position in shares of Enviva Partners during the third quarter valued at approximately $13,971,000. Goldman Sachs Group Inc. lifted its holdings in shares of Enviva Partners by 49.4% during the second quarter. Goldman Sachs Group Inc. now owns 758,700 shares of the energy company’s stock valued at $39,764,000 after purchasing an additional 250,713 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Enviva Partners by 77.0% during the second quarter. Clearbridge Investments LLC now owns 428,378 shares of the energy company’s stock valued at $22,451,000 after purchasing an additional 186,378 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Shares of EVA opened at $73.08 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.98 and a quick ratio of 0.68. Enviva Partners has a one year low of $44.40 and a one year high of $76.92. The company has a 50-day simple moving average of $70.83 and a two-hundred day simple moving average of $61.22. The firm has a market capitalization of $4.46 billion, a PE ratio of -100.11 and a beta of 1.08.

Enviva Partners (NYSE:EVA) last issued its quarterly earnings data on Wednesday, November 3rd. The energy company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.25. Enviva Partners had a net margin of 0.05% and a return on equity of 17.93%. The business had revenue of $237.40 million during the quarter, compared to analyst estimates of $291.11 million. Analysts expect that Enviva Partners will post 0.9 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Shareholders of record on Monday, November 15th were issued a $0.84 dividend. The ex-dividend date was Friday, November 12th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.82. This represents a $3.36 annualized dividend and a yield of 4.60%. Enviva Partners’s dividend payout ratio (DPR) is -460.27%.

About Enviva Partners

Enviva Partners LP engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.

Further Reading: How to track put option volume

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.