Enviva Partners LP (EVA) Raises Dividend to $0.64 Per Share

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Enviva Partners LP (NYSE:EVA) declared a quarterly dividend on Thursday, November 1st, Wall Street Journal reports. Shareholders of record on Thursday, November 15th will be paid a dividend of 0.635 per share by the energy company on Thursday, November 29th. This represents a $2.54 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date is Wednesday, November 14th. This is a positive change from Enviva Partners’s previous quarterly dividend of $0.63.

Enviva Partners has a dividend payout ratio of 494.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enviva Partners to earn $1.87 per share next year, which means the company may not be able to cover its $2.52 annual dividend with an expected future payout ratio of 134.8%.

NYSE EVA traded up $0.42 on Thursday, reaching $30.44. The stock had a trading volume of 1,174 shares, compared to its average volume of 33,750. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.18 and a quick ratio of 0.77. Enviva Partners has a 1-year low of $25.01 and a 1-year high of $33.20. The firm has a market cap of $798.58 million, a price-to-earnings ratio of 49.84 and a beta of 1.07.

Enviva Partners (NYSE:EVA) last issued its quarterly earnings data on Wednesday, August 8th. The energy company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Enviva Partners had a positive return on equity of 8.77% and a negative net margin of 0.30%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $148.60 million. On average, equities analysts anticipate that Enviva Partners will post 0.51 earnings per share for the current fiscal year.

A number of research analysts have commented on EVA shares. TheStreet raised Enviva Partners from a “c+” rating to a “b” rating in a report on Monday, September 17th. ValuEngine upgraded Enviva Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded Enviva Partners from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, August 10th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $37.00 target price (up from $33.00) on shares of Enviva Partners in a research report on Thursday, August 9th.

Enviva Partners Company Profile

Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and 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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Dividend History for Enviva Partners (NYSE:EVA)

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