Enviva Partners LP (EVA) Receives Consensus Recommendation of “Buy” from Brokerages

Enviva Partners LP (NYSE:EVA) has received an average recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $32.00.

EVA has been the topic of a number of research reports. ValuEngine downgraded Enviva Partners from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Friday, March 30th. Finally, TheStreet upgraded Enviva Partners from a “c” rating to a “b” rating in a report on Tuesday, January 2nd.

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Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in Enviva Partners in the fourth quarter worth approximately $220,000. California Public Employees Retirement System increased its holdings in Enviva Partners by 13.6% in the third quarter. California Public Employees Retirement System now owns 31,007 shares of the energy company’s stock worth $916,000 after buying an additional 3,707 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Enviva Partners by 15.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 48,377 shares of the energy company’s stock worth $1,338,000 after buying an additional 6,420 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Enviva Partners by 67.0% in the fourth quarter. Renaissance Technologies LLC now owns 116,722 shares of the energy company’s stock worth $3,227,000 after buying an additional 46,822 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Enviva Partners by 155.8% in the fourth quarter. Deutsche Bank AG now owns 178,826 shares of the energy company’s stock worth $4,944,000 after buying an additional 108,926 shares during the last quarter.

Shares of EVA traded up $0.15 during trading hours on Monday, reaching $27.80. The company’s stock had a trading volume of 50,397 shares, compared to its average volume of 67,917. The company has a market capitalization of $728.58, a price-to-earnings ratio of 45.57 and a beta of 1.01. Enviva Partners has a 1-year low of $25.01 and a 1-year high of $31.95. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.47 and a quick ratio of 1.16.

Enviva Partners (NYSE:EVA) last issued its earnings results on Thursday, February 22nd. The energy company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.11). The business had revenue of $161.01 million during the quarter, compared to analyst estimates of $136.60 million. Enviva Partners had a net margin of 3.80% and a return on equity of 7.65%. equities research analysts expect that Enviva Partners will post 1.61 earnings per share for the current fiscal year.

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About Enviva Partners

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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