The Manufacturers Life Insurance Company lessened its stake in Enviva Partners, LP (NYSE:EVA) by 59.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,627 shares of the energy company’s stock after selling 1,000,000 shares during the period. The Manufacturers Life Insurance Company owned 1.74% of Enviva Partners worth $27,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVA. IFP Advisors Inc raised its holdings in shares of Enviva Partners by 61.9% in the third quarter. IFP Advisors Inc now owns 680 shares of the energy company’s stock valued at $27,000 after buying an additional 260 shares during the last quarter. Spirit of America Management Corp NY purchased a new position in Enviva Partners in the third quarter valued at about $89,000. Inverness Counsel LLC NY purchased a new position in Enviva Partners in the third quarter valued at about $217,000. Virtu Financial LLC purchased a new position in Enviva Partners in the second quarter valued at about $226,000. Finally, Duff & Phelps Investment Management Co. acquired a new stake in shares of Enviva Partners in the third quarter valued at approximately $262,000.
Shares of NYSE EVA opened at $43.99 on Friday. Enviva Partners, LP has a 1 year low of $20.63 and a 1 year high of $45.72. The firm’s 50 day moving average price is $42.40 and its 200 day moving average price is $38.48. The firm has a market cap of $1.75 billion, a P/E ratio of -231.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.57 and a current ratio of 1.88.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.775 per share. The ex-dividend date is Thursday, November 12th. This represents a $3.10 dividend on an annualized basis and a yield of 7.05%. This is an increase from Enviva Partners’s previous quarterly dividend of $0.77. Enviva Partners’s dividend payout ratio (DPR) is currently 516.67%.
Several analysts have recently commented on EVA shares. Zacks Investment Research lowered shares of Enviva Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, October 13th. Raymond James raised their target price on shares of Enviva Partners from $44.00 to $48.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 5th. TheStreet lowered shares of Enviva Partners from a “b-” rating to a “c” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Enviva Partners from $46.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.25.
Enviva Partners Company Profile
Enviva Partners, LP produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in dedicated and co-fired power generation, and combined heat and power plants. It serves power generators primarily in the United Kingdom, Europe, and Japan. Enviva Partners GP, LLC operates as the general partner of the company.
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