Enviva Partners, LP (NYSE:EVA) Expected to Announce Earnings of $0.15 Per Share

Wall Street brokerages forecast that Enviva Partners, LP (NYSE:EVA) will report earnings of $0.15 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Enviva Partners’ earnings. The lowest EPS estimate is $0.09 and the highest is $0.20. Enviva Partners posted earnings per share of $0.07 in the same quarter last year, which suggests a positive year-over-year growth rate of 114.3%. The company is expected to report its next quarterly earnings report on Wednesday, November 3rd.

On average, analysts expect that Enviva Partners will report full-year earnings of $0.85 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $0.94 per share, with EPS estimates ranging from $0.80 to $1.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Enviva Partners.

Enviva Partners (NYSE:EVA) last released its quarterly earnings data on Wednesday, July 28th. The energy company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.21). Enviva Partners had a net margin of 0.20% and a return on equity of 12.74%. The company had revenue of $285.04 million during the quarter.

Several research analysts have weighed in on EVA shares. JPMorgan Chase & Co. started coverage on Enviva Partners in a research report on Tuesday, September 7th. They set an “overweight” rating and a $63.00 price objective on the stock. The Goldman Sachs Group started coverage on Enviva Partners in a research report on Wednesday, September 1st. They issued a “neutral” rating and a $54.00 price target on the stock. Zacks Investment Research cut Enviva Partners from a “hold” rating to a “sell” rating in a research report on Monday, August 2nd. Finally, Barclays raised their price target on Enviva Partners from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $58.29.

A number of hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. increased its holdings in Enviva Partners by 56.8% in the second quarter. Marshall Wace North America L.P. now owns 39,723 shares of the energy company’s stock worth $2,081,000 after purchasing an additional 14,383 shares in the last quarter. Morgan Stanley increased its holdings in shares of Enviva Partners by 47.2% during the second quarter. Morgan Stanley now owns 333,950 shares of the energy company’s stock valued at $17,502,000 after acquiring an additional 107,015 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Enviva Partners during the second quarter valued at approximately $241,000. Wells Fargo & Company MN increased its holdings in shares of Enviva Partners by 15.6% during the second quarter. Wells Fargo & Company MN now owns 20,280 shares of the energy company’s stock valued at $1,063,000 after acquiring an additional 2,732 shares in the last quarter. Finally, Bramshill Investments LLC increased its holdings in shares of Enviva Partners by 11.2% during the second quarter. Bramshill Investments LLC now owns 26,911 shares of the energy company’s stock valued at $1,410,000 after acquiring an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 70.46% of the company’s stock.

Enviva Partners stock traded down $0.58 during mid-day trading on Thursday, hitting $54.91. 72,483 shares of the company’s stock traded hands, compared to its average volume of 88,591. The firm has a 50 day simple moving average of $53.90 and a two-hundred day simple moving average of $51.20. Enviva Partners has a fifty-two week low of $38.47 and a fifty-two week high of $56.69. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -60.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.06 and a quick ratio of 0.78.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were paid a $0.815 dividend. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.79. This represents a $3.26 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Thursday, August 12th. Enviva Partners’s payout ratio is currently 776.19%.

About Enviva Partners

Enviva Partners LP engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.

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