Enviva Partners LP (NYSE:EVA) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 38,300 shares, an increase of 53.8% from the July 31st total of 24,900 shares. Based on an average trading volume of 67,600 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.
Institutional investors have recently modified their holdings of the business. Riverstone Holdings LLC increased its stake in Enviva Partners by 14.1% in the 2nd quarter. Riverstone Holdings LLC now owns 13,586,375 shares of the energy company’s stock worth $426,884,000 after purchasing an additional 1,681,237 shares in the last quarter. Carlyle Group L.P. increased its stake in Enviva Partners by 0.3% in the 1st quarter. Carlyle Group L.P. now owns 11,155,725 shares of the energy company’s stock worth $359,772,000 after purchasing an additional 30,860 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Enviva Partners by 66.0% in the 1st quarter. HITE Hedge Asset Management LLC now owns 787,669 shares of the energy company’s stock worth $25,402,000 after purchasing an additional 313,267 shares in the last quarter. UBS Group AG increased its stake in Enviva Partners by 10.1% in the 2nd quarter. UBS Group AG now owns 416,973 shares of the energy company’s stock worth $13,102,000 after purchasing an additional 38,261 shares in the last quarter. Finally, Morgan Stanley increased its stake in Enviva Partners by 46.6% in the 2nd quarter. Morgan Stanley now owns 386,016 shares of the energy company’s stock worth $12,128,000 after purchasing an additional 122,651 shares in the last quarter.
Several brokerages have commented on EVA. Goldman Sachs Group upgraded shares of Enviva Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $37.00 in a research report on Monday, June 24th. Zacks Investment Research cut shares of Enviva Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada set a $39.00 price target on shares of Enviva Partners and gave the stock a “buy” rating in a research report on Monday, August 12th.
Enviva Partners stock traded up $0.24 during midday trading on Friday, hitting $31.23. The company’s stock had a trading volume of 1,239 shares, compared to its average volume of 58,905. The company has a quick ratio of 0.53, a current ratio of 0.75 and a debt-to-equity ratio of 2.20. The stock’s 50-day moving average price is $30.47 and its 200-day moving average price is $31.04. Enviva Partners has a 12 month low of $25.40 and a 12 month high of $33.48. The company has a market capitalization of $1.04 billion, a PE ratio of 43.76 and a beta of 0.87.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Enviva Partners’s previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a yield of 8.45%. Enviva Partners’s payout ratio is 371.83%.
Enviva Partners Company Profile
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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