Zacks Investment Research upgraded shares of Green Plains Partners (NASDAQ:GPP) from a sell rating to a hold rating in a report issued on Monday morning.
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. “
GPP has been the subject of a number of other research reports. Robert W. Baird restated a buy rating and issued a $18.00 price target (down previously from $20.00) on shares of Green Plains Partners in a research report on Friday, September 14th. BidaskClub lowered Green Plains Partners from a hold rating to a sell rating in a research note on Wednesday, July 4th. ValuEngine raised Green Plains Partners from a sell rating to a hold rating in a research note on Thursday, June 21st. Stifel Nicolaus dropped their price objective on Green Plains Partners from $18.00 to $16.00 and set a buy rating for the company in a research note on Thursday, October 11th. Finally, TheStreet raised Green Plains Partners from a d+ rating to a c+ rating in a research note on Monday, June 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $18.20.
Shares of GPP opened at $15.40 on Monday. The company has a debt-to-equity ratio of -2.06, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $474.25 million, a price-to-earnings ratio of 8.51, a P/E/G ratio of 0.56 and a beta of 0.57. Green Plains Partners has a 52 week low of $14.40 and a 52 week high of $20.25.
Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Wednesday, August 1st. The transportation company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $25.84 million during the quarter, compared to analysts’ expectations of $27.16 million. Green Plains Partners had a negative return on equity of 89.66% and a net margin of 54.40%. As a group, research analysts anticipate that Green Plains Partners will post 1.76 earnings per share for the current fiscal year.
The firm also recently disclosed a dividend, which was paid on Monday, October 8th. Stockholders of record on Friday, August 3rd were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, August 2nd. Green Plains Partners’s dividend payout ratio (DPR) is 104.97%.
In other news, Director Martin Salinas purchased 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average cost of $16.37 per share, with a total value of $98,220.00. Following the completion of the purchase, the director now owns 10,590 shares in the company, valued at $173,358.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have recently made changes to their positions in GPP. Luzich Partners LLC bought a new position in Green Plains Partners during the second quarter valued at approximately $2,130,000. Bank of America Corp DE lifted its stake in shares of Green Plains Partners by 673.7% in the 2nd quarter. Bank of America Corp DE now owns 63,904 shares of the transportation company’s stock valued at $1,096,000 after purchasing an additional 55,645 shares during the last quarter. Western Standard LLC bought a new stake in shares of Green Plains Partners in the 2nd quarter valued at approximately $366,000. GSA Capital Partners LLP bought a new stake in shares of Green Plains Partners in the 2nd quarter valued at approximately $206,000. Finally, Cavalier Investments LLC lifted its stake in shares of Green Plains Partners by 41.1% in the 2nd quarter. Cavalier Investments LLC now owns 17,242 shares of the transportation company’s stock valued at $295,000 after purchasing an additional 5,024 shares during the last quarter. 16.55% of the stock is owned by institutional investors.
Green Plains Partners Company Profile
Green Plains Partners LP provides fuel storage and transportation services. It acquires, owns, develops, and operates ethanol and fuel storage tanks, terminals, transportation assets, and other related assets and businesses. The company owns or leases 39 ethanol storage facilities and approximately 61 acres of land.
Further Reading: Ex-Dividend
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