Green Plains Partners LP (GPP) Upgraded at Zacks Investment Research
Green Plains Partners LP (NASDAQ:GPP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $22.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 13.70% from the company’s current price.
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. “
Other equities analysts have also issued research reports about the company. Credit Suisse Group AG set a $20.00 target price on Green Plains Partners and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus increased their target price on Green Plains Partners from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Roth Capital reiterated a “buy” rating on shares of Green Plains Partners in a research note on Monday, August 1st. DA Davidson reiterated a “buy” rating and set a $21.50 target price on shares of Green Plains Partners in a research note on Tuesday, September 27th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $19.00 target price (up previously from $16.00) on shares of Green Plains Partners in a research note on Thursday, August 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Green Plains Partners has a consensus rating of “Buy” and a consensus price target of $19.81.
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Shares of Green Plains Partners (NASDAQ:GPP) traded down 0.26% during trading on Wednesday, reaching $19.35. The company’s stock had a trading volume of 26,431 shares. The company has a market cap of $615.33 million, a PE ratio of 12.76 and a beta of 1.39. Green Plains Partners has a 52-week low of $12.41 and a 52-week high of $20.41. The firm’s 50-day moving average is $18.94 and its 200 day moving average is $16.08.
Green Plains Partners (NASDAQ:GPP) last released its quarterly earnings data on Monday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Green Plains Partners had a return on equity of 131.23% and a net margin of 52.66%. On average, equities research analysts predict that Green Plains Partners will post $1.71 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the company. 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 in the last quarter. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Green Plains Partners during the second quarter worth $238,000. GSA Capital Partners LLP acquired a new stake in shares of Green Plains Partners during the second quarter worth $259,000. Nwam LLC acquired a new stake in shares of Green Plains Partners during the second quarter worth $276,000. Finally, Brown Advisory Inc. increased its stake in shares of Green Plains Partners by 5.0% in the second quarter. Brown Advisory Inc. now owns 377,546 shares of the company’s stock worth $5,871,000 after buying an additional 18,102 shares in the last quarter. 53.03% of the stock is currently owned by institutional investors and hedge funds.
About Green Plains Partners
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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