Zacks Investment Research upgraded shares of Enviva Partners, LP (NYSE:EVA) from a sell rating to a hold rating in a report released on Tuesday.

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. “

Several other equities analysts also recently weighed in on EVA. Citigroup Inc. upgraded shares of Enviva Partners, from a neutral rating to a buy rating and set a $34.00 target price for the company in a report on Friday, September 22nd. BidaskClub raised shares of Enviva Partners, from a hold rating to a buy rating in a report on Saturday, August 5th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $33.00 price target on shares of Enviva Partners, in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $33.50.

Enviva Partners, (EVA) traded up 0.027% on Tuesday, reaching $29.808. 3,448 shares of the company’s stock were exchanged. Enviva Partners, has a 12-month low of $24.45 and a 12-month high of $30.01. The firm has a 50 day moving average of $29.11 and a 200-day moving average of $29.11. The company has a market cap of $784.43 million, a P/E ratio of 53.612 and a beta of 1.17.

Enviva Partners, (NYSE:EVA) last released its quarterly earnings data on Thursday, August 3rd. The energy company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.22). Enviva Partners, had a return on equity of 8.49% and a net margin of 2.38%. The business had revenue of $126.90 million during the quarter, compared to analysts’ expectations of $142.08 million. Enviva Partners,’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Equities analysts expect that Enviva Partners, will post $0.77 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ardsley Advisory Partners purchased a new stake in shares of Enviva Partners, in the second quarter valued at $3,238,000. Navellier & Associates Inc boosted its stake in shares of Enviva Partners, by 2.8% during the second quarter. Navellier & Associates Inc now owns 22,764 shares of the energy company’s stock valued at $626,000 after acquiring an additional 610 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Enviva Partners, during the second quarter valued at $989,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Enviva Partners, by 6.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 39,457 shares of the energy company’s stock valued at $1,085,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Enviva Partners, by 4.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,203,547 shares of the energy company’s stock valued at $33,098,000 after acquiring an additional 55,476 shares during the last quarter.

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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