Enviva Partners LP (NYSE:EVA)’s share price fell 1.9% during mid-day trading 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 brokerages have recently issued reports on EVA. Drexel Hamilton began coverage on Enviva Partners in a research report on Tuesday, June 7th. They set a “buy” rating and a $28.00 price target on the stock. Raymond James Financial Inc. cut Enviva Partners from a “strong-buy” rating to an “outperform” rating and set a $24.00 price target on the stock. in a research report on Thursday. Citigroup Inc. cut Enviva Partners to an “outperform” rating and set a $24.00 target price on the stock. in a report on Thursday. Finally, Zacks Investment Research cut Enviva Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.83.

The firm has a market capitalization of $554.06 million and a price-to-earnings ratio of 20.63. The company has a 50 day moving average of $22.86 and a 200 day moving average of $20.69.

Enviva Partners (NYSE:EVA) last announced its earnings results on Thursday, May 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by $0.06. The firm earned $107.30 million during the quarter, compared to analyst estimates of $140.70 million. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts expect that Enviva Partners LP will post $1.54 EPS for the current year.

A hedge fund recently raised its stake in Enviva Partners stock. Wells Fargo & Company MN raised its stake 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 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 about 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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