Zacks Investment Research lowered shares of Enviva Partners (NYSE:EVA) from a hold rating to a strong sell rating in a report published 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. “
A number of other brokerages also recently weighed in on EVA. Royal Bank of Canada reiterated a buy rating on shares of Enviva Partners in a research report on Tuesday, November 7th. Citigroup upgraded shares of Enviva Partners from a neutral rating to a buy rating and set a $34.00 price target on the stock in a research report on Friday, September 22nd. Finally, TheStreet upgraded shares of Enviva Partners from a c rating to a b rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Enviva Partners presently has a consensus rating of Buy and an average target price of $32.67.
Shares of Enviva Partners (EVA) traded down $0.05 during trading hours on Wednesday, hitting $28.55. 31,988 shares of the company were exchanged, compared to its average volume of 47,868. The firm has a market cap of $411.46, a P/E ratio of 713.93 and a beta of 1.09. The company has a quick ratio of 1.03, a current ratio of 1.52 and a debt-to-equity ratio of 1.22. Enviva Partners has a 1-year low of $24.60 and a 1-year high of $31.95.
A number of hedge funds have recently made changes to their positions in EVA. Wells Fargo & Company MN raised its holdings in Enviva Partners by 6.2% during the 2nd quarter. Wells Fargo & Company MN now owns 21,692 shares of the energy company’s stock worth $597,000 after buying an additional 1,273 shares during the period. Roosevelt Investment Group Inc. raised its holdings in Enviva Partners by 4.1% during the 2nd quarter. Roosevelt Investment Group Inc. now owns 7,746 shares of the energy company’s stock worth $213,000 after buying an additional 305 shares during the period. Ameriprise Financial Inc. raised its holdings in Enviva Partners by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,049 shares of the energy company’s stock worth $6,244,000 after buying an additional 2,000 shares during the period. Goldman Sachs Group Inc. raised its holdings in Enviva Partners by 4.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,203,547 shares of the energy company’s stock worth $33,098,000 after buying an additional 55,476 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Enviva Partners by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 39,457 shares of the energy company’s stock worth $1,085,000 after buying an additional 2,286 shares during the period.
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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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