BidaskClub downgraded shares of Green Plains Partners (NASDAQ:GPP) from a hold rating to a sell rating in a research note published on Friday morning.
Several other equities analysts have also issued reports on GPP. Zacks Investment Research upgraded Green Plains Partners from a sell rating to a hold rating in a research report on Saturday, January 26th. Stifel Nicolaus decreased their target price on Green Plains Partners from $18.00 to $16.00 and set a buy rating for the company in a research report on Thursday, October 11th. ValuEngine upgraded Green Plains Partners from a strong sell rating to a sell rating in a research report on Tuesday, October 16th. Finally, Wells Fargo & Co lowered Green Plains Partners from an outperform rating to a market perform rating and set a $18.00 target price for the company. in a research report on Friday, December 21st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $17.83.
Shares of GPP stock opened at $14.49 on Friday. The stock has a market capitalization of $461.22 million, a P/E ratio of 8.01, a PEG ratio of 0.56 and a beta of 0.49. Green Plains Partners has a 12 month low of $13.30 and a 12 month high of $18.30.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, February 1st were given a $0.475 dividend. The ex-dividend date of this dividend was Thursday, January 31st. This represents a $1.90 annualized dividend and a dividend yield of 13.11%. Green Plains Partners’s dividend payout ratio is presently 104.97%.
In other Green Plains Partners news, CEO Todd A. Becker sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $14.65, for a total value of $73,250.00. Following the sale, the chief executive officer now owns 57,556 shares in the company, valued at approximately $843,195.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey S. Briggs sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $14.17, for a total value of $56,680.00. The disclosure for this sale can be found here. Insiders sold a total of 16,738 shares of company stock valued at $241,337 over the last quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Green Plains Partners during the 4th quarter worth approximately $199,000. Raymond James & Associates raised its stake in shares of Green Plains Partners by 11.4% during the 2nd quarter. Raymond James & Associates now owns 40,143 shares of the transportation company’s stock worth $688,000 after purchasing an additional 4,123 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Green Plains Partners by 673.7% during the 2nd quarter. Bank of America Corp DE now owns 63,904 shares of the transportation company’s stock worth $1,096,000 after purchasing an additional 55,645 shares in the last quarter. Mondrian Investment Partners LTD raised its stake in shares of Green Plains Partners by 26.1% during the 4th quarter. Mondrian Investment Partners LTD now owns 289,769 shares of the transportation company’s stock worth $3,932,000 after purchasing an additional 59,958 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Green Plains Partners by 5.3% during the 3rd quarter. Morgan Stanley now owns 1,060,379 shares of the transportation company’s stock worth $15,799,000 after purchasing an additional 53,809 shares in the last quarter. Hedge funds and other institutional investors own 15.48% of the company’s stock.
About Green Plains Partners
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.
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