Green Plains Partners (NASDAQ:GPP) Shares Pass Above 50 Day Moving Average of $13.20

Green Plains Partners LP (NASDAQ:GPP)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $13.20 and traded as high as $14.21. Green Plains Partners shares last traded at $14.21, with a volume of 24,778 shares traded.

Separately, Stifel Nicolaus raised shares of Green Plains Partners from a “hold” rating to a “buy” rating and raised their target price for the stock from $13.00 to $16.00 in a research report on Tuesday, August 3rd.

The firm has a market capitalization of $327.51 million, a PE ratio of 7.97 and a beta of 0.75. The stock’s 50-day moving average price is $13.21 and its 200 day moving average price is $12.61.

Green Plains Partners (NASDAQ:GPP) last released its quarterly earnings data on Sunday, August 1st. The transportation company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Green Plains Partners had a net margin of 50.02% and a negative return on equity of 134.02%. The business had revenue of $19.70 million for the quarter, compared to the consensus estimate of $20.69 million.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 6th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, August 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.40%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPP. Citigroup Inc. boosted its stake in shares of Green Plains Partners by 83.9% during the second quarter. Citigroup Inc. now owns 16,965 shares of the transportation company’s stock valued at $217,000 after purchasing an additional 7,738 shares in the last quarter. UBS Group AG boosted its stake in shares of Green Plains Partners by 67.1% during the first quarter. UBS Group AG now owns 27,308 shares of the transportation company’s stock valued at $337,000 after purchasing an additional 10,969 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Green Plains Partners by 128.2% during the first quarter. Goldman Sachs Group Inc. now owns 255,249 shares of the transportation company’s stock valued at $3,145,000 after purchasing an additional 143,419 shares in the last quarter. EVR Research LP bought a new position in shares of Green Plains Partners during the first quarter valued at approximately $3,696,000. Finally, Morgan Stanley boosted its stake in Green Plains Partners by 19.7% in the first quarter. Morgan Stanley now owns 1,241,382 shares of the transportation company’s stock valued at $15,294,000 after acquiring an additional 204,215 shares in the last quarter. Hedge funds and other institutional investors own 21.96% of the company’s stock.

About Green Plains Partners (NASDAQ:GPP)

Green Plains Partners LP provides ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The company was founded on March 2, 2015 and is headquartered in Omaha, NE.

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