Enviva Partners LP (NYSE:EVA) was down 1.9% on Friday . The stock traded as low as $22.40 and last traded at $22.45, with a volume of 58,868 shares changing hands. The stock had previously closed at $22.88.

Several equities research analysts have weighed in on EVA shares. Zacks Investment Research raised shares of Enviva Partners from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, May 9th. Citigroup Inc. lowered shares of Enviva Partners to an “outperform” rating and set a $24.00 price objective for the company. in a report on Thursday. Drexel Hamilton initiated coverage on shares of Enviva Partners in a report on Tuesday, June 7th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Raymond James Financial Inc. lowered shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price objective for the company. in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Enviva Partners currently has an average rating of “Buy” and an average price target of $23.83.

The stock has a 50-day moving average of $22.87 and a 200 day moving average of $20.65. The firm has a market capitalization of $554.06 million and a P/E ratio of 20.63.

Enviva Partners (NYSE:EVA) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.06. The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $140.70 million. The business’s revenue was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Enviva Partners LP will post $1.54 earnings per share for the current year.

An institutional investor recently raised its position in Enviva Partners stock. Wells Fargo & Company MN boosted its stake in shares of Enviva Partners LP (NYSE:EVA) by 85.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 386,762 shares of the company’s stock after buying an additional 178,678 shares during the period. Wells Fargo & Company MN owned about 1.62% of Enviva Partners worth $7,020,000 as of its most recent filing with the SEC.

Enviva Partners, LP 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 Company procures wood fiber and processes it into utility-grade wood pellets.

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