Enviva Partners LP (NYSE:EVA) Announces Dividend Increase – $0.66 Per Share

Enviva Partners LP (NYSE:EVA) declared a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Investors of record on Thursday, August 15th will be given a dividend of 0.66 per share by the energy company on Thursday, August 29th. This represents a $2.64 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.65.

Enviva Partners has raised its dividend by an average of 52.8% per year over the last three years and has raised its dividend every year for the last 3 years. Enviva Partners has a dividend payout ratio of 517.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Enviva Partners to earn $1.33 per share next year, which means the company may not be able to cover its $2.64 annual dividend with an expected future payout ratio of 198.5%.

NYSE:EVA opened at $29.65 on Tuesday. The stock has a 50 day moving average price of $30.55. Enviva Partners has a 52 week low of $25.40 and a 52 week high of $33.48. The firm has a market capitalization of $977.92 million, a P/E ratio of 41.76 and a beta of 0.90. The company has a quick ratio of 1.09, a current ratio of 1.25 and a debt-to-equity ratio of 2.34.

Several equities analysts have commented on the company. Goldman Sachs Group upgraded Enviva Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $37.00 in a report on Monday, June 24th. Zacks Investment Research upgraded Enviva Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, August 8th.

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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Dividend History for Enviva Partners (NYSE:EVA)

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