Sigma Planning Corp Takes Position in Green Plains Partners LP (NASDAQ:GPP)
Sigma Planning Corp bought a new position in Green Plains Partners LP (NASDAQ:GPP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,886 shares of the transportation company’s stock, valued at approximately $503,000.
A number of other large investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in Green Plains Partners by 11.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock worth $274,000 after buying an additional 1,417 shares during the period. UBS Group AG increased its stake in Green Plains Partners by 0.7% in the first quarter. UBS Group AG now owns 335,212 shares of the transportation company’s stock worth $6,738,000 after buying an additional 2,301 shares during the period. Walnut Private Equity Partners LLC increased its stake in Green Plains Partners by 50.0% in the second quarter. Walnut Private Equity Partners LLC now owns 30,000 shares of the transportation company’s stock worth $561,000 after buying an additional 10,000 shares during the period. HITE Hedge Asset Management LLC bought a new stake in Green Plains Partners during the first quarter worth approximately $322,000. Finally, Mondrian Investment Partners LTD bought a new stake in Green Plains Partners during the first quarter worth approximately $1,741,000. 55.39% of the stock is owned by institutional investors and hedge funds.
Shares of Green Plains Partners LP (NASDAQ GPP) opened at 18.00 on Tuesday. The firm has a 50-day moving average of $19.03 and a 200-day moving average of $19.43. The company has a market cap of $572.63 million, a P/E ratio of 9.95 and a beta of 0.98. Green Plains Partners LP has a 52-week low of $17.05 and a 52-week high of $21.75.
Green Plains Partners (NASDAQ:GPP) last posted its quarterly earnings results 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. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $29.62 million. Green Plains Partners had a negative return on equity of 90.84% and a net margin of 54.97%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Green Plains Partners LP will post $1.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, August 4th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.00%. This is a boost from Green Plains Partners’s previous quarterly dividend of $0.44. Green Plains Partners’s dividend payout ratio (DPR) is currently 100.00%.
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A number of equities research analysts have commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.00 target price on shares of Green Plains Partners in a research report on Friday, July 28th. Bank of America Corporation downgraded shares of Green Plains Partners from a “buy” rating to an “underperform” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $22.00 target price on shares of Green Plains Partners in a research report on Tuesday, June 6th. Finally, Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. Green Plains Partners currently has an average rating of “Hold” and a consensus target price of $21.75.
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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