Brokerages Set Green Plains Partners LP (GPP) PT at $21.80
Shares of Green Plains Partners LP (NASDAQ:GPP) have received a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.80.
GPP has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $22.00 price target on shares of Green Plains Partners in a research report on Friday, July 28th. Bank of America Corporation cut shares of Green Plains Partners from a “buy” rating to an “underperform” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Wednesday, August 2nd. Roth Capital set a $24.00 target price on shares of Green Plains Partners and gave the company a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub cut shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $24.00 target price on shares of Green Plains Partners in a research report on Thursday, August 24th.
Shares of Green Plains Partners (NASDAQ GPP) traded down $0.15 during mid-day trading on Friday, hitting $19.00. 13,107 shares of the stock traded hands, compared to its average volume of 37,355. The company has a debt-to-equity ratio of -2.13, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $606.02 and a PE ratio of 10.58. 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 announced its quarterly earnings results on Wednesday, November 1st. The transportation company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $26.45 million for the quarter, compared to analyst estimates of $28.36 million. Green Plains Partners had a net margin of 55.10% and a negative return on equity of 92.23%. The company’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 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, November 3rd were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 9.68%. This is a boost from Green Plains Partners’s previous quarterly dividend of $0.45. Green Plains Partners’s dividend payout ratio is presently 99.46%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its position in shares of Green Plains Partners by 67.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,776 shares of the transportation company’s stock worth $426,000 after purchasing an additional 9,141 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of Green Plains Partners during the second quarter worth about $638,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Green Plains Partners during the third quarter worth about $1,960,000. Wedbush Securities Inc. acquired a new stake in shares of Green Plains Partners during the second quarter worth about $213,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Green Plains Partners during the second quarter worth about $327,000. 45.07% of the stock is currently owned by institutional investors.
About Green Plains Partners
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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