BidaskClub Lowers Green Plains Partners LP (GPP) to Sell

BidaskClub lowered shares of Green Plains Partners LP (NASDAQ:GPP) from a hold rating to a sell rating in a research note published on Wednesday.

Several other research analysts also recently weighed in on the company. Stifel Nicolaus reiterated a buy rating and issued a $21.00 price target on shares of Green Plains Partners in a report on Thursday, October 12th. Zacks Investment Research downgraded Green Plains Partners from a hold rating to a sell rating in a report on Wednesday, October 11th. Robert W. Baird reiterated a buy rating and issued a $24.00 price target on shares of Green Plains Partners in a report on Thursday, August 24th. Roth Capital set a $24.00 price target on Green Plains Partners and gave the company a buy rating in a report on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded Green Plains Partners from a buy rating to an underperform rating and cut their price target for the company 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 and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $22.00.

Shares of Green Plains Partners (GPP) traded up 2.82% on Wednesday, reaching $20.05. The company had a trading volume of 50,488 shares. The firm has a 50-day moving average price of $19.75 and a 200 day moving average price of $19.33. The firm has a market capitalization of $319.26 million, a price-to-earnings ratio of 11.14 and a beta of 1.00. Green Plains Partners has a 1-year low of $17.05 and a 1-year high of $21.75.

Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.10). The business had revenue of $25.10 million during the quarter, compared to analyst estimates of $29.62 million. Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.84%. The company’s revenue was down 1.6% on a year-over-year basis. Equities research analysts predict that Green Plains Partners will post $1.84 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, November 3rd will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 9.18%. Green Plains Partners’s payout ratio is 100.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG grew its stake in shares of Green Plains Partners by 0.7% during the 1st quarter. UBS Group AG now owns 335,212 shares of the transportation company’s stock valued at $6,738,000 after buying an additional 2,301 shares during the period. Mondrian Investment Partners LTD grew its stake in shares of Green Plains Partners by 107.3% during the 2nd quarter. Mondrian Investment Partners LTD now owns 179,596 shares of the transportation company’s stock valued at $3,358,000 after buying an additional 92,963 shares during the period. Citigroup Inc. grew its stake in shares of Green Plains Partners by 0.8% during the 2nd quarter. Citigroup Inc. now owns 64,311 shares of the transportation company’s stock valued at $1,203,000 after buying an additional 486 shares during the period. GSA Capital Partners LLP grew its stake in shares of Green Plains Partners by 13.5% during the 2nd quarter. GSA Capital Partners LLP now owns 48,056 shares of the transportation company’s stock valued at $899,000 after buying an additional 5,718 shares during the period. Finally, Arrow Investment Advisors LLC purchased a new stake in shares of Green Plains Partners during the 2nd quarter valued at $638,000. 44.81% of the stock is 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).

Analyst Recommendations for Green Plains Partners (NASDAQ:GPP)

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