|Over a week ago|
Enviva Partners enters MOU with MOL Drybulk to deploy EFBC » 09:3105/1905/19/22
Enviva and MOL Drybulk…
Enviva and MOL Drybulk announced they have signed an additional memorandum of understanding to deploy an environmentally friendly bulk carrier, or EFBC, to reduce the greenhouse gas, or GHG, emissions in the ocean transportation of sustainable wood pellets and biofuels. Following a successful joint study phase, the EFBC is scheduled for launch in 2024 and will aim to utilize rotor sail technology developed by Anemoi Marine Technologies together with MOL's 'Wind Challenger' technology, which would both reduce emissions by harnessing wind energy, for an expected average GHG savings of about 20% in total. The 62,900-deadweight tons vessel will be built by Oshima Shipbuilding.
Enviva Partners director buys $994.5K in common stock » 20:3305/1105/11/22
In a regulatory filing,…
In a regulatory filing, Enviva Partners disclosed that its director John BumGarner bought 13.6K shares of common stock on May 9th in a total transaction size of $994.5K.
Enviva Partners reports Q1 revenue $233M, consensus $261.94M » 16:4905/0405/04/22
"As I have often…
"As I have often said, although we have been insulated from so many of the logistics, supply chain, pandemic, and now geopolitical-related challenges facing the broader global economy, we are not immune. As we previewed during our last earnings call in March, the first quarter of 2022 likely was going to be a challenge for us, as our seasonally softest quarter was also impacted by dampened production due to Omicron-related absenteeism at our plants and labor-related and other pressures experienced by our rail and trucking providers," said John Keppler, Chairman and Chief Executive Officer. "Although the effects were more impactful than we originally anticipated, we believe that the pandemic-related issues are largely behind us and are optimistic that the efforts that our logistics partners are making will soon put their challenges firmly in the rear-view mirror as well."
|Over a month ago|
Enviva Partners price target raised to $77 from $76 at JPMorgan » 07:3204/1904/19/22
JPMorgan analyst Mark…
JPMorgan analyst Mark Strouse raised the firm's price target on Enviva Partners to $77 from $76 and keeps a Neutral rating on the shares. Heading into the Q1 prints, the analyst expects alternative energy demand to remain "generally robust," with potential upside to forecasts in Europe as a result of the ongoing energy crisis. That said, some supply chain risks remain, potentially exacerbated by lockdowns in China, and the antidumping and countervailing duties investigation in the U.S. creates near-term uncertainty regarding solar panel availability in that market, particularly for utility-scale, Strouse tells investors in a research note.
Enviva announces $250M investment to build Mississippi production plant » 12:0204/0504/05/22
Enviva announced it will…
Enviva announced it will invest approximately $250M in Bond, Mississippi to build a new wood pellet production plant. The facility is a key component of the company's growth strategy to double production capacity from the current 6.2 million metric tons annually to approximately 13 million metric tons annually over the next five years. The facility site, directly off Highway 49 in Bond, was selected in close collaboration with Governor Tate Reeves, the Mississippi Development Authority, and Stone County officials. The plant is fully contracted under long-term take-or-pay supply contracts with customers around the world, providing for durable, positive economic impact to the community. In addition to creating around 100 local jobs with wages projected to be approximately 70 percent higher than the county average, the Bond plant will generate more than $1M in taxes per year for the county and school district and deliver over $250M annually in economic impact in the region. Once operational, the plant will support more than 350 jobs, including those in related industries such as logging and transportation. Construction is expected to begin in early 2023, subject to receiving the necessary permits, and is expected to take approximately 18 months. The Bond plant is expected to have a production capacity of more than 1 million metric tons of wood pellets per year.
Enviva Partners downgraded to Market Perform from Outperform at Raymond James » 06:5404/0504/05/22
Raymond James analyst…
Raymond James analyst Pavel Molchanov downgraded Enviva Partners to Market Perform from Outperform as part of a series of rating changes within an earnings update on the renewable energy and clean technology sector. Inclusive of a scarcity premium for the European overweight of the revenue mix, the yieldco is now "fairly valued," Molchanov tells investors.
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 10:0903/2903/29/22
AZO, FTNT, SITE, RIO, AAON, POWL, ETSY, REAL, CVS, REYN, RBB, KIND, EVA, BFAM, OUT, BODY, LAMR
Truist starts Enviva Partners at Buy amid industrial decarbonization » 07:1003/2903/29/22
Truist analyst Jordan…
Truist analyst Jordan Levy initiated coverage of Enviva Partners with a Buy rating and $100 price target. The company is a leading global wood pellet producer for biomass energy, having positioned itself to enter into a new growth phase benefiting from themes of industrial decarbonization and energy security, the analyst tells investors in a research note. Enviva offers a differentiated combination of both yield and growth that should garner new investor interest and potential index inclusion, Levy adds.
Enviva Partners initiated with a Buy at Truist » 06:2903/2903/29/22
Truist analyst Jordan…
Truist analyst Jordan Levy initiated coverage of Enviva Partners with a Buy rating and $100 price target.
Enviva Partners price target raised to $85 from $78 at RBC Capital » 09:1903/0703/07/22
RBC Capital analyst…
RBC Capital analyst Elvira Scotto raised the firm's price target on Enviva Partners to $85 from $78 and keeps an Outperform rating on the shares after its Q4 results. The company continues to execute on its strategy and announced an MOU with a new industrial customer and a new contract with an existing customer, the analyst tells investors in a research note. Given its total contracted revenue backlog of over $21B and customer sales pipeline of over $40B, Enviva should be able to meaningfully grow cash flow in the coming years, Scotto adds.