Fintel reports that on October 3, 2023, Raymond James maintained coverage of Enviva (NYSE:EVA) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 120.77% Upside
As of August 31, 2023, the average one-year price target for Enviva is 16.12. The forecasts range from a low of 10.10 to a high of $26.25. The average price target represents an increase of 120.77% from its latest reported closing price of 7.30.
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The projected annual revenue for Enviva is 1,617MM, an increase of 42.35%. The projected annual non-GAAP EPS is 0.83.
What is the Fund Sentiment?
There are 323 funds or institutions reporting positions in Enviva. This is a decrease of 64 owner(s) or 16.54% in the last quarter. Average portfolio weight of all funds dedicated to EVA is 0.22%, a decrease of 30.92%. Total shares owned by institutions decreased in the last three months by 2.45% to 66,472K shares. 
The put/call ratio of EVA is 0.30, indicating a bullish outlook.
What are Other Shareholders Doing?
Riverstone Holdings holds 32,416K shares representing 43.56% ownership of the company. No change in the last quarter.
Inclusive Capital Partners holds 7,599K shares representing 10.21% ownership of the company. In it's prior filing, the firm reported owning 5,742K shares, representing an increase of 24.43%. The firm decreased its portfolio allocation in EVA by 53.69% over the last quarter.
Covalis Capital Llp holds 1,688K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 643K shares, representing an increase of 61.87%. The firm decreased its portfolio allocation in EVA by 24.68% over the last quarter.
American Century Companies holds 1,530K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 1,550K shares, representing a decrease of 1.27%. The firm decreased its portfolio allocation in EVA by 64.50% over the last quarter.
Millennium Management holds 1,438K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 510K shares, representing an increase of 64.52%. The firm decreased its portfolio allocation in EVA by 8.93% over the last quarter.
Enviva Background Information
(This description is provided by the company.)
Enviva Partners, LP is a master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, Europe, and increasingly in Japan. The Partnership owns and operates nine plants with a combined production capacity of approximately 5.3 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, the Partnership exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia and the Port of Wilmington, North Carolina and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
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