Shares of Enviva Partners LP (NYSE:EVA) dropped 2.1% during trading on Wednesday . The stock traded as low as $21.81 and last traded at $22.09, with a volume of 144,978 shares trading hands. The stock had previously closed at $22.56.

EVA has been the topic of several recent analyst reports. Zacks Investment Research lowered Enviva Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. Drexel Hamilton initiated coverage on Enviva Partners in a research note 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, three have given a buy rating and one has given a strong buy rating to the company. Enviva Partners has a consensus rating of “Buy” and an average target price of $23.75.

The company has a 50-day moving average price of $22.93 and a 200-day moving average price of $20.42. The firm has a market cap of $547.87 million and a P/E ratio of 20.40.

Enviva Partners (NYSE:EVA) last posted its quarterly earnings data 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 business earned $107.30 million during the quarter, compared to analysts’ expectations of $140.70 million. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts expect that Enviva Partners LP will post $1.54 EPS for the current year.

An institutional investor recently raised its position in Enviva Partners stock. Wells Fargo & Company MN increased 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 (SEC). The fund 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.