Enviva Partners LP (NYSE:EVA)’s share price traded down 3.4% on Thursday . The company traded as low as $23.51 and last traded at $23.65, with a volume of 57,054 shares traded. The stock had previously closed at $24.49.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Enviva Partners from a “hold” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research report on Monday. DA Davidson assumed coverage on shares of Enviva Partners in a research report on Tuesday, July 19th. They set a “buy” rating and a $28.00 target price for the company. Raymond James Financial Inc. lowered shares of Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 target price for the company. in a research report on Thursday, July 14th. Citigroup Inc. lowered shares of Enviva Partners to an “outperform” rating and set a $24.00 target price for the company. in a research report on Thursday, July 14th. Finally, Drexel Hamilton assumed coverage on shares of Enviva Partners in a research report on Tuesday, June 7th. They set a “buy” rating and a $28.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Enviva Partners presently has a consensus rating of “Buy” and an average target price of $25.00.

The stock has a 50 day moving average price of $22.48 and a 200 day moving average price of $21.46. The stock has a market cap of $588.34 million and a PE ratio of 17.88.

Enviva Partners (NYSE:EVA) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $119.70 million for the quarter, compared to the consensus estimate of $123.17 million. Enviva Partners’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, analysts predict that Enviva Partners LP will post $1.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given a dividend of $0.525 per share. This is a boost from Enviva Partners’s previous quarterly dividend of $0.51. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date is Thursday, August 11th.

A hedge fund recently raised its stake in Enviva Partners stock. Wells Fargo & Company MN boosted its position in Enviva Partners LP (NYSE:EVA) by 85.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 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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