The stock of Enviva Partners LP (NYSE:EVA) reached all time high today, Nov, 2 and still has $33.66 target or 20.00% above today’s $28.05 share price. This indicates more upside for the $684.68M company. This technical setup was reported by Barchart.com. If the $33.66 PT is reached, the company will be worth $136.94 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 4.47% or $1.2 during the last trading session, hitting $28.05. About 350,943 shares traded hands or 309.65% up from the average. Enviva Partners LP (NYSE:EVA) has risen 23.62% since March 31, 2016 and is uptrending. It has outperformed by 21.10% the S&P500.
Analysts await Enviva Partners LP (NYSE:EVA) to report earnings on November, 3. They expect $0.44 EPS, up 62.96% or $0.17 from last year’s $0.27 per share. EVA’s profit will be $10.74M for 15.94 P/E if the $0.44 EPS becomes a reality. After $0.47 actual EPS reported by Enviva Partners LP for the previous quarter, Wall Street now forecasts -6.38% negative EPS growth.
Enviva Partners LP (NYSE:EVA) Ratings Coverage
Out of 5 analysts covering Enviva Partners (NYSE:EVA), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Enviva Partners has been the topic of 5 analyst reports since November 6, 2015 according to StockzIntelligence Inc. The rating was initiated by Goldman Sachs with “Neutral” on Thursday, September 22. The firm has “Buy” rating given on Wednesday, June 8 by Drexel Hamilton. The firm has “Neutral” rating given on Friday, August 26 by Citigroup. The stock of Enviva Partners LP (NYSE:EVA) has “Outperform” rating given on Friday, February 19 by RBC Capital Markets.
According to Zacks Investment Research, “Enviva Partners, LP is a master limited partnership which owns and operates wood pellet production plants. It serves primarily in the United States and Europe. Enviva Partners, LP is based in Bethesa, United States.”
More notable recent Enviva Partners LP (NYSE:EVA) news were published by: Businesswire.com which released: “Enviva Partners, LP Announces Fifth Consecutive Distribution Increase” on November 02, 2016, also Reuters.com with their article: “BRIEF-Enviva Partners LP says board of its general partner declared qtrly …” published on November 02, 2016, Businesswire.com published: “Enviva Partners, LP Receives Offer to Acquire Sampson Production Plant” on October 17, 2016. More interesting news about Enviva Partners LP (NYSE:EVA) were released by: Fool.com and their article: “Why Enviva Partners LP Was Up 16% in August” published on September 06, 2016 as well as Businesswire.com‘s news article titled: “Enviva Partners, LP Signs Long-Term Off-take Contract” with publication date: June 02, 2016.
EVA Company Profile
Enviva Partners, LP, incorporated on November 12, 2013, is a producer of wood pellets. The Company, through its interests in Enviva, LP and Enviva GP, LLC, supplies utility-grade wood pellets to power generators under long-term, take-or-pay off-take contracts. The Firm procures wood fiber and processes it into utility-grade wood pellets. The Firm loads the finished wood pellets into railcars, trucks and barges that are transported to deep-water marine terminals, where they are received, stored and ultimately loaded onto oceangoing vessels for transport to its Northern European customers.
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