Zacks Investment Research lowered shares of Green Plains Partners LP (NASDAQ:GPP) from a hold rating to a sell rating in a report issued 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. “
Several other research firms also recently weighed in on GPP. Stifel Nicolaus downgraded Green Plains Partners from a buy rating to a hold rating and dropped their price target for the stock from $21.00 to $20.00 in a research note on Friday, November 3rd. Roth Capital set a $24.00 price objective on Green Plains Partners and gave the stock a buy rating in a report on Tuesday, October 24th. BidaskClub raised Green Plains Partners from a hold rating to a buy rating in a report on Tuesday, September 26th. Finally, Robert W. Baird restated a buy rating and set a $24.00 price target on shares of Green Plains Partners in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $21.80.
Green Plains Partners (NASDAQ:GPP) last released its quarterly earnings results on Wednesday, November 1st. The transportation company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The business had revenue of $26.45 million for the quarter, compared to analysts’ expectations of $28.36 million. Green Plains Partners had a net margin of 55.10% and a negative return on equity of 92.23%. Green Plains Partners’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. sell-side analysts anticipate that Green Plains Partners will post 1.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were given a dividend of $0.46 per share. 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 9.74%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.45. Green Plains Partners’s dividend payout ratio (DPR) is presently 101.66%.
A number of hedge funds have recently modified their holdings of GPP. Citigroup Inc. boosted its holdings in Green Plains Partners by 0.8% in the second quarter. Citigroup Inc. now owns 64,311 shares of the transportation company’s stock worth $1,203,000 after acquiring an additional 486 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings 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 worth $119,000 after acquiring an additional 2,252 shares in the last quarter. Sigma Planning Corp raised its stake in shares of Green Plains Partners by 12.8% in the third quarter. Sigma Planning Corp now owns 30,335 shares of the transportation company’s stock worth $610,000 after purchasing an additional 3,449 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Green Plains Partners by 18.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 27,003 shares of the transportation company’s stock worth $543,000 after purchasing an additional 4,227 shares during the last quarter. Finally, Arrow Investment Advisors LLC raised its stake in shares of Green Plains Partners by 16.7% in the third quarter. Arrow Investment Advisors LLC now owns 39,844 shares of the transportation company’s stock worth $801,000 after purchasing an additional 5,714 shares during the last quarter. 45.07% of the stock is currently owned by institutional investors.
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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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