Enviva Partners LP (EVA) : K.j. Harrison Partners Inc scooped up 17,700 additional shares in Enviva Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 67,700 shares of Enviva Partners LP which is valued at $1,477,891.Enviva Partners LP makes up approximately 0.77% of K.j. Harrison Partners Inc’s portfolio.
Other Hedge Funds, Including , American Century Companies Inc reduced its stake in EVA by selling 69,038 shares or 24.1% in the most recent quarter. The Hedge Fund company now holds 217,449 shares of EVA which is valued at $4,746,912. Enviva Partners LP makes up approx 0.01% of American Century Companies Inc’s portfolio. Winslow Evans Crocker added EVA to its portfolio by purchasing 3,550 company shares during the most recent quarter which is valued at $77,071. Enviva Partners LP makes up approx 0.02% of Winslow Evans Crocker’s portfolio.Acadian Asset Management boosted its stake in EVA in the latest quarter, The investment management firm added 28,401 additional shares and now holds a total of 91,141 shares of Enviva Partners LP which is valued at $2,018,773. Enviva Partners LP makes up approx 0.01% of Acadian Asset Management’s portfolio. Simplex Trading added EVA to its portfolio by purchasing 400 company shares during the most recent quarter which is valued at $8,860.Creative Planning boosted its stake in EVA in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 800 shares of Enviva Partners LP which is valued at $18,472.
Enviva Partners LP opened for trading at $21.35 and hit $21.99 on the upside on Friday, eventually ending the session at $21.82, with a gain of 2.92% or 0.62 points. The heightened volatility saw the trading volume jump to 76,506 shares. Company has a market cap of $540 M.
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.
Many Wall Street Analysts have commented on Enviva Partners LP. Enviva Partners LP was Downgraded by Raymond James to ” Outperform” on Jul 14, 2016. Drexel Hamilton Initiated Enviva Partners LP on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $28.
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.