Riverstone Holdings LLC Has $37,047,000 Position in Enviva Partners, LP (NYSE:EVA)
Riverstone Holdings LLC held its stake in shares of Enviva Partners, LP (NYSE:EVA) during the second quarter, Holdings Channel reports. The fund owned 1,347,161 shares of the energy company’s stock at the end of the second quarter. Enviva Partners, makes up approximately 1.3% of Riverstone Holdings LLC’s holdings, making the stock its 6th largest position. Riverstone Holdings LLC owned about 0.05% of Enviva Partners, worth $37,047,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Cypress Capital Management LLC WY increased its stake in shares of Enviva Partners, by 13.1% in the first quarter. Cypress Capital Management LLC WY now owns 5,195 shares of the energy company’s stock valued at $146,000 after buying an additional 600 shares during the last quarter. Navellier & Associates Inc acquired a new stake in shares of Enviva Partners, during the first quarter valued at $623,000. James Investment Research Inc. increased its stake in shares of Enviva Partners, by 0.4% in the first quarter. James Investment Research Inc. now owns 103,530 shares of the energy company’s stock valued at $2,909,000 after buying an additional 420 shares during the last quarter. Naples Global Advisors LLC increased its stake in shares of Enviva Partners, by 6.6% in the first quarter. Naples Global Advisors LLC now owns 28,440 shares of the energy company’s stock valued at $799,000 after buying an additional 1,750 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Enviva Partners, by 13.8% in the first quarter. Wells Fargo & Company MN now owns 20,419 shares of the energy company’s stock valued at $574,000 after buying an additional 2,481 shares during the last quarter.
Shares of Enviva Partners, LP (EVA) opened at 30.10 on Thursday. Enviva Partners, LP has a 1-year low of $22.82 and a 1-year high of $30.60. The company has a market cap of $792.11 million, a P/E ratio of 34.13 and a beta of 1.18. The stock has a 50 day moving average price of $28.30 and a 200-day moving average price of $28.05.
Enviva Partners, (NYSE:EVA) last released its quarterly earnings results on Thursday, August 3rd. The energy company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.22. Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. The business had revenue of $126.90 million for the quarter, compared to the consensus estimate of $142.08 million. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Analysts predict that Enviva Partners, LP will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.57 per share. This is an increase from Enviva Partners,’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, August 11th. This represents a $2.28 annualized dividend and a yield of 7.57%. Enviva Partners,’s dividend payout ratio is currently 634.30%.
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Several analysts have weighed in on EVA shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $33.00 target price on shares of Enviva Partners, in a research note on Thursday, April 13th. Zacks Investment Research downgraded Enviva Partners, from a “hold” rating to a “strong sell” rating in a research note on Friday, May 12th. TheStreet raised Enviva Partners, from a “c” rating to a “b-” rating in a research note on Wednesday, May 17th. Finally, BidaskClub raised Enviva Partners, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.00.
In other news, Director William K. Reilly acquired 5,500 shares of Enviva Partners, stock in a transaction on Friday, June 16th. The shares were purchased at an average price of $27.68 per share, with a total value of $152,240.00. Following the acquisition, the director now owns 23,598 shares in the company, valued at $653,192.64. The transaction was disclosed in a document filed with the SEC, which is available through this link.
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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