Green Plains Partners LP (GPP) Receives Consensus Rating of “Hold” from Analysts
Green Plains Partners LP (NASDAQ:GPP) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.70.
A number of equities analysts have recently issued reports on GPP shares. Zacks Investment Research upgraded shares of Green Plains Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price objective on shares of Green Plains Partners in a research note on Tuesday, June 6th. ValuEngine downgraded shares of Green Plains Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price objective on shares of Green Plains Partners in a research note on Friday, June 23rd. Finally, Bank of America Corporation downgraded shares of Green Plains Partners from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, August 2nd.
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Green Plains Partners (GPP) traded up 0.28% during mid-day trading on Friday, reaching $18.20. The company’s stock had a trading volume of 8,425 shares. Green Plains Partners has a one year low of $17.05 and a one year high of $21.75. The stock has a market cap of $579.00 million, a P/E ratio of 10.06 and a beta of 0.98. The firm’s 50 day moving average is $19.05 and its 200-day moving average is $19.49.
Green Plains Partners (NASDAQ:GPP) last issued its earnings results on Monday, July 31st. The transportation company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $29.62 million. Green Plains Partners had a negative return on equity of 90.84% and a net margin of 54.97%. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Green Plains Partners will post $1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, August 4th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 9.89%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 2nd. Green Plains Partners’s dividend payout ratio (DPR) is 100.00%.
A number of large investors have recently made changes to their positions in GPP. Acrospire Investment Management LLC increased its stake in shares of Green Plains Partners by 54.7% in the second quarter. Acrospire Investment Management LLC now owns 6,370 shares of the transportation company’s stock valued at $119,000 after buying an additional 2,252 shares during the period. WealthPLAN Partners LLC purchased a new stake in shares of Green Plains Partners during the second quarter valued at $210,000. Wedbush Securities Inc. purchased a new stake in shares of Green Plains Partners during the second quarter valued at $213,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Green Plains Partners by 11.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock valued at $274,000 after buying an additional 1,417 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Green Plains Partners during the first quarter valued at $322,000. Institutional investors own 54.60% of the company’s stock.
Green Plains Partners Company Profile
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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