Enviva Partners LP (EVA) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Jul 14, 2016.
Many Wall Street Analysts have commented on Enviva Partners LP. Drexel Hamilton Initiated Enviva Partners LP on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $28.
On the company’s financial health, Enviva Partners LP reported $0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.35. The company had revenue of $107.25 million for the quarter, compared to analysts expectations of $140.70 million. The company’s revenue was down -6.2 % compared to the same quarter last year.
Enviva Partners LP closed down -0.08 points or -0.35% at $23.09 with 48,742 shares getting traded on Wednesday. Post opening the session at $23.24, the shares hit an intraday low of $22.6701 and an intraday high of $23.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Dec 23, 2015, John C Jr Bumgarner (director) purchased 20,000 shares at $14.22 per share price. According to the SEC, on Dec 23, 2015, James P. Geraghty (Vice Pres & Controller) purchased 2,000 shares at $14.25 per share price. On Jun 11, 2015, Stephen F Reeves (CFO) purchased 1,250 shares at $19.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Enviva Partners LP is engaged in the supply of utility-grade wood pellets to power generators. The Company procures wood fiber from landowners and other suppliers dries and processes fiber into wood pellets at its production plants and transports those products to deep-water marine terminals where they are stored and then distributed to its customers. The Company’s wood pellets are used as a substitute fuel for coal in biomass or co-fired coal power plants. In addition the wood pellets produced from its Cottondale plant are suitable for uses other than industrial power generation including commercial and residential heating. It also acquires wood pellets in the Pacific Northwest for sale in Asian markets. The Company owns and operates five production plants which have a combined wood pellet production capacity of approximately two million metric tons per year (MTPY) located in the Mid-Atlantic and the Gulf Coast regions of the United States.