Enviva Partners (NYSE:EVA) Price Target Increased to $42.00 by Analysts at Raymond James

Enviva Partners (NYSE:EVA) had its target price upped by Raymond James from $38.00 to $42.00 in a research note released on Wednesday morning, The Fly reports. Raymond James currently has a strong-buy rating on the energy company’s stock.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Enviva Partners from a hold rating to a buy rating and set a $39.00 price target for the company in a report on Thursday, April 30th. Citigroup dropped their price objective on Enviva Partners from $40.00 to $35.00 and set a neutral rating for the company in a report on Friday, April 24th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Enviva Partners in a research note on Thursday, June 4th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Enviva Partners has an average rating of Buy and a consensus price target of $38.75.

EVA stock opened at $35.26 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.24 and a debt-to-equity ratio of 3.26. The business has a 50 day moving average price of $34.14 and a two-hundred day moving average price of $34.37. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -587.67 and a beta of 1.25. Enviva Partners has a twelve month low of $20.63 and a twelve month high of $39.30.

Enviva Partners (NYSE:EVA) last posted its quarterly earnings results on Wednesday, April 29th. The energy company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. Enviva Partners had a return on equity of 21.28% and a net margin of 1.86%. The firm had revenue of $204.48 million during the quarter, compared to the consensus estimate of $176.80 million. On average, equities research analysts anticipate that Enviva Partners will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.68. This represents a $2.72 annualized dividend and a dividend yield of 7.71%. Enviva Partners’s dividend payout ratio is currently 453.33%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Carlyle Group Inc. raised its position in shares of Enviva Partners by 14.2% in the fourth quarter. Carlyle Group Inc. now owns 12,744,020 shares of the energy company’s stock worth $475,479,000 after buying an additional 1,588,295 shares in the last quarter. ValueAct Holdings L.P. raised its position in Enviva Partners by 20.1% during the first quarter. ValueAct Holdings L.P. now owns 2,527,175 shares of the energy company’s stock valued at $67,526,000 after purchasing an additional 422,914 shares in the last quarter. Citigroup Inc. raised its position in Enviva Partners by 105.0% during the first quarter. Citigroup Inc. now owns 207,552 shares of the energy company’s stock valued at $5,545,000 after purchasing an additional 106,299 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in Enviva Partners by 22.3% during the first quarter. Kayne Anderson Capital Advisors LP now owns 476,012 shares of the energy company’s stock valued at $12,713,000 after purchasing an additional 86,891 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in Enviva Partners during the first quarter valued at about $935,000.

About Enviva Partners

Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and large-scale power generators in the United Kingdom and other European markets. Enviva Partners GP, LLC operates as the general partner of the company. Enviva Partners, LP was founded in 2013 and is based in Bethesda, Maryland.

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