Enviva Partners (NYSE:EVA) Cut to “Sell” at Zacks Investment Research

Enviva Partners (NYSE:EVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

A number of other equities research analysts also recently issued reports on EVA. Raymond James downgraded shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $57.00 price target on the stock. in a research note on Tuesday, October 5th. The Goldman Sachs Group started coverage on shares of Enviva Partners in a research note on Wednesday, September 1st. They set a “neutral” rating and a $54.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Enviva Partners in a research note on Tuesday, September 7th. They set an “overweight” rating and a $63.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $58.29.

NYSE:EVA traded up $0.15 on Wednesday, hitting $55.92. The stock had a trading volume of 112,380 shares, compared to its average volume of 88,954. The company has a quick ratio of 0.78, a current ratio of 1.06 and a debt-to-equity ratio of 1.88. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -61.45 and a beta of 1.02. The company has a fifty day moving average price of $54.06 and a two-hundred day moving average price of $51.69. Enviva Partners has a 1-year low of $39.85 and a 1-year high of $56.94.

Enviva Partners (NYSE:EVA) last released its quarterly earnings results on Wednesday, July 28th. The energy company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.21). The company had revenue of $285.04 million during the quarter. Enviva Partners had a net margin of 0.20% and a return on equity of 12.74%. As a group, analysts anticipate that Enviva Partners will post 0.85 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Enviva Partners by 53.8% in the 2nd quarter. US Bancorp DE now owns 1,000 shares of the energy company’s stock valued at $52,000 after buying an additional 350 shares in the last quarter. LPL Financial LLC boosted its stake in Enviva Partners by 8.5% during the 2nd quarter. LPL Financial LLC now owns 5,144 shares of the energy company’s stock worth $270,000 after purchasing an additional 405 shares during the period. HighTower Advisors LLC boosted its stake in Enviva Partners by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 5,544 shares of the energy company’s stock worth $267,000 after purchasing an additional 408 shares during the period. Commonwealth Equity Services LLC boosted its stake in Enviva Partners by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 15,329 shares of the energy company’s stock worth $803,000 after purchasing an additional 470 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Enviva Partners during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 70.46% of the company’s stock.

Enviva Partners Company Profile

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.

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