Enviva Partners LP (NYSE:EVA) shares fell 2.5% during mid-day trading on Friday . The company traded as low as $21.53 and last traded at $21.64, with a volume of 116,287 shares changing hands. The stock had previously closed at $22.19.

A number of research firms have issued reports on EVA. DA Davidson began coverage on Enviva Partners in a research note on Tuesday. They issued a “buy” rating and a $28.00 target price for the company. Zacks Investment Research lowered Enviva Partners from a “buy” rating to a “hold” rating in a report on Monday, May 16th. Raymond James Financial Inc. lowered Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target on the stock. in a report on Thursday, July 14th. Citigroup Inc. lowered Enviva Partners to an “outperform” rating and set a $24.00 price target on the stock. in a report on Thursday, July 14th. Finally, Drexel Hamilton began coverage on Enviva Partners in a report on Tuesday, June 7th. They issued a “buy” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.43.

The company’s 50 day moving average price is $22.77 and its 200 day moving average price is $20.80. The stock has a market cap of $537.47 million and a P/E ratio of 20.01.

Enviva Partners (NYSE:EVA) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.06. The firm earned $107.30 million during the quarter, compared to the consensus estimate of $140.70 million. Enviva Partners’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Enviva Partners LP will post $1.52 EPS for the current year.

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

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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