Zacks Investment Research Lowers Enviva Partners (EVA) to Hold

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

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. “

Shares of EVA traded up $0.09 during midday trading on Wednesday, reaching $30.90. The stock had a trading volume of 23,920 shares, compared to its average volume of 46,873. Enviva Partners has a one year low of $25.01 and a one year high of $33.20. The company has a market cap of $815.04 million, a PE ratio of 43.52 and a beta of 0.93. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.58 and a quick ratio of 0.39.

Enviva Partners (NYSE:EVA) last posted its earnings results on Wednesday, February 20th. The energy company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $168.67 million during the quarter, compared to analysts’ expectations of $162.20 million. Enviva Partners had a net margin of 1.22% and a return on equity of 19.52%. Analysts expect that Enviva Partners will post 1.71 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ValueAct Holdings L.P. lifted its stake in shares of Enviva Partners by 4.6% during the 4th quarter. ValueAct Holdings L.P. now owns 723,650 shares of the energy company’s stock worth $20,081,000 after buying an additional 31,621 shares during the last quarter. Barclays PLC acquired a new stake in shares of Enviva Partners during the 4th quarter worth about $81,000. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enviva Partners by 15.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 476,500 shares of the energy company’s stock worth $13,217,000 after buying an additional 64,600 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Enviva Partners by 855.0% during the 4th quarter. Advisor Group Inc. now owns 1,910 shares of the energy company’s stock worth $53,000 after buying an additional 1,710 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of Enviva Partners by 33.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 80,516 shares of the energy company’s stock worth $2,234,000 after buying an additional 20,049 shares during the last quarter.

About Enviva Partners

Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and 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.

Further Reading: Price to Earnings Ratio (PE)

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