Green Plains Partners LP (GPP) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Green Plains Partners LP (NASDAQ:GPP) from a sell rating to a hold rating in a research note released on Saturday morning.
A number of other equities research analysts have also recently issued reports on GPP. Bank of America Corporation cut Green Plains Partners from a buy rating to an underperform rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, August 2nd. Roth Capital set a $24.00 price objective on Green Plains Partners and gave the company a buy rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated a buy rating and issued a $22.00 price objective on shares of Green Plains Partners in a research note on Tuesday, June 6th. Stifel Nicolaus restated a buy rating and issued a $22.00 price objective on shares of Green Plains Partners in a research note on Friday, July 28th. Finally, ValuEngine cut Green Plains Partners from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Green Plains Partners presently has an average rating of Hold and an average price target of $22.07.
Green Plains Partners (GPP) traded up 0.27% during mid-day trading on Friday, reaching $18.60. 7,284 shares of the company’s stock traded hands. Green Plains Partners has a 1-year low of $17.05 and a 1-year high of $21.75. The firm has a market cap of $591.72 million, a PE ratio of 10.28 and a beta of 0.98. The firm has a 50 day moving average of $18.95 and a 200 day moving average of $19.37.
Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings data on Monday, July 31st. The transportation company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.10. Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.84%. The firm had revenue of $25.10 million during the quarter, compared to the consensus estimate of $29.62 million. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts forecast that Green Plains Partners will post $1.85 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, August 4th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date of this dividend was Wednesday, August 2nd. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.44. Green Plains Partners’s payout ratio is presently 100.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its position in Green Plains Partners by 67.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,776 shares of the transportation company’s stock worth $426,000 after buying an additional 9,141 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Green Plains Partners during the second quarter worth $327,000. WealthPLAN Partners LLC bought a new position in Green Plains Partners during the second quarter worth $210,000. Citigroup Inc. raised its position in Green Plains Partners by 0.8% in the second quarter. Citigroup Inc. now owns 64,311 shares of the transportation company’s stock worth $1,203,000 after buying an additional 486 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Green Plains Partners by 13.5% in the second quarter. GSA Capital Partners LLP now owns 48,056 shares of the transportation company’s stock worth $899,000 after buying an additional 5,718 shares during the last quarter. 55.39% of the stock is owned by institutional investors and hedge funds.
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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