Green Plains Partners LP (NASDAQ:GPP) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 38,400 shares, a growth of 69.2% from the June 30th total of 22,700 shares. Based on an average daily volume of 92,500 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are sold short.
GPP opened at $7.08 on Friday. Green Plains Partners has a 1-year low of $3.47 and a 1-year high of $14.81. The stock has a market capitalization of $163.97 million, a price-to-earnings ratio of 4.02 and a beta of 0.88. The business has a 50 day moving average of $6.92 and a 200-day moving average of $8.58.
Green Plains Partners (NASDAQ:GPP) last issued its earnings results on Monday, May 4th. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $20.27 million during the quarter, compared to analyst estimates of $20.55 million. Green Plains Partners had a negative return on equity of 54.98% and a net margin of 50.74%. Equities research analysts anticipate that Green Plains Partners will post 1.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 31st will be paid a $0.12 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.78%. Green Plains Partners’s payout ratio is 27.27%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lion Street Advisors LLC acquired a new position in Green Plains Partners during the first quarter worth $1,115,000. Invesco Ltd. raised its stake in Green Plains Partners by 272.4% during the first quarter. Invesco Ltd. now owns 149,361 shares of the transportation company’s stock worth $992,000 after acquiring an additional 109,258 shares in the last quarter. Harvest Fund Advisors LLC acquired a new position in Green Plains Partners during the first quarter worth $546,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Green Plains Partners during the second quarter worth $280,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Green Plains Partners during the first quarter worth $161,000. Institutional investors and hedge funds own 22.79% of the company’s stock.
A number of equities research analysts have issued reports on the company. Royal Bank of Canada decreased their target price on Green Plains Partners from $15.00 to $10.00 in a research report on Friday, May 15th. ValuEngine raised Green Plains Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, Zacks Investment Research raised Green Plains Partners from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Green Plains Partners currently has an average rating of “Hold” and an average target price of $14.50.
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 32 ethanol storage facilities and approximately 49 acres of land.
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