Enviva Partners LP (NYSE:EVA) Short Interest Down 6.7% in July

Enviva Partners LP (NYSE:EVA) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 24,900 shares, a drop of 6.7% from the June 30th total of 26,700 shares. Based on an average daily volume of 58,200 shares, the short-interest ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Shares of NYSE EVA traded down $0.37 during midday trading on Thursday, reaching $29.70. 119,824 shares of the company’s stock traded hands, compared to its average volume of 59,753. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.09 and a current ratio of 1.25. The stock’s 50 day moving average is $30.52. Enviva Partners has a one year low of $25.40 and a one year high of $33.48. The stock has a market cap of $998.78 million, a P/E ratio of 41.83 and a beta of 0.90.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.66 per share. The ex-dividend date is Wednesday, August 14th. This is an increase from Enviva Partners’s previous quarterly dividend of $0.65. This represents a $2.64 dividend on an annualized basis and a dividend yield of 8.89%. Enviva Partners’s dividend payout ratio (DPR) is currently 363.38%.

A number of research firms have recently issued reports on EVA. Royal Bank of Canada set a $39.00 price objective on shares of Enviva Partners and gave the company a “buy” rating in a research note on Monday. Goldman Sachs Group upgraded shares of Enviva Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $32.00 to $37.00 in a research note on Monday, June 24th. Finally, Zacks Investment Research downgraded shares of Enviva Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $37.67.

Large investors have recently bought and sold shares of the stock. Advisor Group Inc. raised its holdings in shares of Enviva Partners by 855.0% during the 4th quarter. Advisor Group Inc. now owns 1,910 shares of the energy company’s stock worth $53,000 after buying an additional 1,710 shares in the last quarter. Enterprise Financial Services Corp acquired a new position in shares of Enviva Partners during the 1st quarter worth $42,000. Bank of Montreal Can acquired a new position in shares of Enviva Partners during the 1st quarter worth $661,000. Kayne Anderson Capital Advisors LP raised its holdings in shares of Enviva Partners by 4.2% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 496,382 shares of the energy company’s stock worth $16,003,000 after buying an additional 19,882 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Enviva Partners by 55.9% during the 1st quarter. Alps Advisors Inc. now owns 11,835 shares of the energy company’s stock worth $382,000 after buying an additional 4,246 shares in the last quarter. 98.98% of the stock is owned by institutional investors.

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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