Zacks Investment Research downgraded shares of Green Plains Partners LP (NASDAQ:GPP) from a hold rating to a sell rating in a research report sent to investors on Monday, November 6th.
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. “
A number of other research firms have also issued reports on GPP. Robert W. Baird reaffirmed a buy rating and set a $24.00 target price on shares of Green Plains Partners in a report on Friday, November 3rd. Stifel Nicolaus lowered shares of Green Plains Partners from a buy rating to a hold rating and dropped their target price for the stock from $21.00 to $20.00 in a report on Friday, November 3rd. Roth Capital set a $24.00 target price on shares of Green Plains Partners and gave the stock a buy rating in a report on Tuesday, October 24th. BidaskClub lowered shares of Green Plains Partners from a hold rating to a sell rating in a report on Wednesday, October 18th. Finally, Bank of America Corporation lowered shares of Green Plains Partners from a buy rating to an underperform rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $21.80.
Shares of Green Plains Partners (NASDAQ:GPP) opened at $18.75 on Monday. The company has a market cap of $298.54, a price-to-earnings ratio of 10.36, a P/E/G ratio of 0.69 and a beta of 0.98. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of -2.13. Green Plains Partners has a 1-year low of $17.65 and a 1-year high of $21.15.
Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Wednesday, November 1st. The transportation company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company had revenue of $26.45 million during the quarter, compared to analysts’ expectations of $28.36 million. Green Plains Partners had a negative return on equity of 92.23% and a net margin of 55.10%. Green Plains Partners’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. analysts expect that Green Plains Partners will post 1.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were issued a $0.46 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.81%. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.45. Green Plains Partners’s dividend payout ratio is currently 101.66%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC lifted its position in 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 last quarter. WealthPLAN Partners LLC acquired a new position in Green Plains Partners in the second quarter valued at about $210,000. Wedbush Securities Inc. acquired a new position in Green Plains Partners in the second quarter valued at about $213,000. Stifel Financial Corp acquired a new position in Green Plains Partners in the third quarter valued at about $250,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Green Plains Partners in the second quarter valued at about $327,000. 45.56% of the stock is owned by hedge funds and other institutional investors.
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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