Enviva Partners (NYSE:EVA) Reaches New 52-Week High at $76.12

Enviva Partners, LP (NYSE:EVA) shares hit a new 52-week high on Thursday . The stock traded as high as $76.12 and last traded at $76.12, with a volume of 390 shares. The stock had previously closed at $74.45.

Several equities analysts have recently weighed in on EVA shares. Royal Bank of Canada raised their price target on shares of Enviva Partners from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, October 18th. Zacks Investment Research cut shares of Enviva Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 19th. JPMorgan Chase & Co. cut shares of Enviva Partners from an “overweight” rating to a “neutral” rating and set a $77.00 target price for the company. in a research note on Thursday, December 9th. They noted that the move was a valuation call. The Goldman Sachs Group assumed coverage on shares of Enviva Partners in a research note on Wednesday, December 1st. They issued a “neutral” rating for the company. Finally, Citigroup raised their target price on shares of Enviva Partners from $55.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, November 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Enviva Partners currently has an average rating of “Hold” and a consensus price target of $70.00.

The firm has a fifty day simple moving average of $70.83 and a 200-day simple moving average of $61.22. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 3.46.

Enviva Partners (NYSE:EVA) last announced its quarterly earnings results on Wednesday, November 3rd. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.25. Enviva Partners had a return on equity of 17.93% and a net margin of 0.05%. The business had revenue of $237.40 million during the quarter, compared to the consensus estimate of $291.11 million. Equities research analysts expect that Enviva Partners, LP will post 0.9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Monday, November 15th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.60%. This is an increase from Enviva Partners’s previous quarterly dividend of $0.82. Enviva Partners’s dividend payout ratio (DPR) is currently -460.27%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC lifted its holdings in shares of Enviva Partners by 3.3% during the third quarter. HighTower Advisors LLC now owns 5,753 shares of the energy company’s stock worth $311,000 after buying an additional 182 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Enviva Partners by 3.8% in the third quarter. Janney Montgomery Scott LLC now owns 5,397 shares of the energy company’s stock valued at $292,000 after purchasing an additional 197 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Enviva Partners by 1.5% in the third quarter. Commonwealth Equity Services LLC now owns 15,555 shares of the energy company’s stock valued at $841,000 after purchasing an additional 226 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Enviva Partners by 1.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 17,156 shares of the energy company’s stock valued at $928,000 after purchasing an additional 304 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Enviva Partners by 14.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,739 shares of the energy company’s stock valued at $148,000 after purchasing an additional 339 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

About Enviva Partners (NYSE:EVA)

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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