Enviva Partners (NYSE:EVA) Given a $39.00 Price Target at Royal Bank of Canada

Enviva Partners (NYSE:EVA) has been given a $39.00 price objective by Royal Bank of Canada in a report issued on Monday, TipRanks reports. The firm presently has a “buy” rating on the energy company’s stock. Royal Bank of Canada’s target price points to a potential upside of 28.50% from the company’s previous close.

A number of other research firms have also weighed in on EVA. Goldman Sachs Group raised shares of Enviva Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $32.00 to $37.00 in a research note on Monday, June 24th. Zacks Investment Research raised shares of Enviva Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.67.

NYSE:EVA traded up $0.20 during mid-day trading on Monday, reaching $30.35. The company’s stock had a trading volume of 1,100 shares, compared to its average volume of 58,928. Enviva Partners has a 1 year low of $25.40 and a 1 year high of $33.48. The business’s fifty day simple moving average is $30.54. The stock has a market capitalization of $981.11 million, a price-to-earnings ratio of 41.90 and a beta of 0.90. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.25 and a quick ratio of 1.09.

Several institutional investors and hedge funds have recently bought and sold shares of EVA. Advisor Group Inc. boosted its stake in shares of Enviva Partners by 855.0% in the 4th quarter. Advisor Group Inc. now owns 1,910 shares of the energy company’s stock valued at $53,000 after buying an additional 1,710 shares during the period. Enterprise Financial Services Corp purchased a new stake in Enviva Partners in the first quarter valued at approximately $42,000. Bank of Montreal Can purchased a new stake in Enviva Partners in the first quarter valued at approximately $661,000. Kayne Anderson Capital Advisors LP lifted its stake in Enviva Partners by 4.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 496,382 shares of the energy company’s stock valued at $16,003,000 after buying an additional 19,882 shares during the last quarter. Finally, Alps Advisors Inc. lifted its stake in Enviva Partners by 55.9% in the first quarter. Alps Advisors Inc. now owns 11,835 shares of the energy company’s stock valued at $382,000 after buying an additional 4,246 shares during the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

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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