Zacks Investment Research upgraded shares of Green Plains Partners (NASDAQ:GPP) from a strong sell rating to a hold rating in a research report report published on Monday.
According to Zacks, “Green Plains Partners LP provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring storage tanks, terminals, transportation assets and other related assets and businesses. Green Plains Partners LP is based in Omaha, Nebraska. “
A number of other brokerages have also weighed in on GPP. Robert W. Baird restated a buy rating and set a $24.00 price target on shares of Green Plains Partners in a research note on Friday, November 3rd. Roth Capital set a $24.00 price target on Green Plains Partners and gave the stock a buy rating in a research note on Tuesday, October 24th. BidaskClub lowered Green Plains Partners from a hold rating to a sell rating in a research note on Wednesday, October 18th. Stifel Nicolaus lowered Green Plains Partners from a buy rating to a hold rating and dropped their price target for the stock from $21.00 to $20.00 in a research note on Friday, November 3rd. Finally, ValuEngine lowered Green Plains Partners from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $21.80.
Green Plains Partners (NASDAQ GPP) opened at $17.70 on Monday. Green Plains Partners has a 52 week low of $16.50 and a 52 week high of $21.00. The stock has a market capitalization of $277.84, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.58 and a beta of 0.74. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of -2.13.
Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Green Plains Partners had a negative return on equity of 92.17% and a net margin of 55.02%. The business had revenue of $28.25 million for the quarter, compared to analyst estimates of $28.22 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was down .1% on a year-over-year basis. equities research analysts expect that Green Plains Partners will post 2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, February 2nd were issued a dividend of $0.47 per share. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, February 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.62%. Green Plains Partners’s payout ratio is 103.87%.
In other news, Director Clayton E. Killinger bought 2,850 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average price of $17.48 per share, with a total value of $49,818.00. Following the completion of the acquisition, the director now directly owns 27,987 shares of the company’s stock, valued at approximately $489,212.76. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tourbillon Capital Partners, L sold 1,209,043 shares of Green Plains Partners stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $16.02, for a total value of $19,368,868.86. The disclosure for this sale can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. SNS Financial Group LLC lifted its holdings in Green Plains Partners by 30.8% in the fourth quarter. SNS Financial Group LLC now owns 353,113 shares of the transportation company’s stock valued at $6,603,000 after acquiring an additional 83,113 shares during the period. Mondrian Investment Partners LTD lifted its holdings in Green Plains Partners by 11.7% in the fourth quarter. Mondrian Investment Partners LTD now owns 200,552 shares of the transportation company’s stock valued at $3,750,000 after acquiring an additional 20,956 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Green Plains Partners in the third quarter valued at approximately $1,960,000. Monashee Investment Management LLC acquired a new position in Green Plains Partners in the fourth quarter valued at approximately $1,403,000. Finally, Arrow Investment Advisors LLC lifted its holdings in Green Plains Partners by 16.7% in the third quarter. Arrow Investment Advisors LLC now owns 39,844 shares of the transportation company’s stock valued at $801,000 after acquiring an additional 5,714 shares during the period. 44.36% of the stock is owned by hedge funds and other institutional investors.
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About Green Plains Partners
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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