Green Plains Partners LP (NASDAQ:GPP) Given Consensus Rating of “Buy” by Brokerages
Shares of Green Plains Partners LP (NASDAQ:GPP) have received an average recommendation of “Buy” from the nine brokerages that are currently covering the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.93.
A number of brokerages have issued reports on GPP. DA Davidson began coverage on shares of Green Plains Partners in a research note on Thursday, August 18th. They set a “buy” rating and a $21.50 price target on the stock. Roth Capital restated a “buy” rating on shares of Green Plains Partners in a research note on Monday, August 1st. RBC Capital Markets restated an “outperform” rating and set a $19.00 price target (up previously from $16.00) on shares of Green Plains Partners in a research note on Thursday, August 4th. Stifel Nicolaus upped their price target on shares of Green Plains Partners from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $20.00 price objective on shares of Green Plains Partners and gave the company a “buy” rating in a report on Wednesday, August 3rd.
A number of hedge funds have recently made changes to their positions in GPP. Feltz Wealth PLAN Inc. purchased a new stake in shares of Green Plains Partners during the second quarter worth about $167,000. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Green Plains Partners during the second quarter worth about $238,000. GSA Capital Partners LLP purchased a new stake in shares of Green Plains Partners during the second quarter worth about $259,000. Nwam LLC purchased a new stake in shares of Green Plains Partners during the second quarter worth about $276,000. Finally, Renaissance Technologies LLC increased its stake in shares of Green Plains Partners by 26.1% in the first quarter. Renaissance Technologies LLC now owns 69,600 shares of the company’s stock worth $936,000 after buying an additional 14,424 shares during the period. 53.03% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Green Plains Partners (NASDAQ:GPP) traded down 0.57% during mid-day trading on Wednesday, hitting $19.28. 26,746 shares of the stock traded hands. Green Plains Partners has a 12 month low of $12.41 and a 12 month high of $20.41. The stock has a market cap of $613.10 million, a price-to-earnings ratio of 12.72 and a beta of 1.40. The firm has a 50 day moving average of $18.36 and a 200 day moving average of $15.53.
Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. Green Plains Partners had a net margin of 52.66% and a return on equity of 131.23%. On average, equities analysts expect that Green Plains Partners will post $1.70 EPS for the current fiscal year.
Green Plains Partners Company Profile
Green Plains Partners LP provides fee-based fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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