Green Plains Partners LP (NASDAQ:GPP) announced a quarterly dividend on Thursday, July 19th, NASDAQ reports. Shareholders of record on Friday, August 3rd will be paid a dividend of 0.475 per share by the transportation company on Friday, August 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 11.95%. The ex-dividend date is Thursday, August 2nd.
Green Plains Partners has a payout ratio of 108.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Green Plains Partners to earn $1.87 per share next year, which means the company may not be able to cover its $1.90 annual dividend with an expected future payout ratio of 101.6%.
Shares of Green Plains Partners opened at $15.90 on Friday, according to Marketbeat.com. Green Plains Partners has a 52 week low of $15.65 and a 52 week high of $20.39. The firm has a market capitalization of $504.49 million, a PE ratio of 8.90, a PEG ratio of 0.60 and a beta of 0.61. The company has a debt-to-equity ratio of -2.06, a current ratio of 1.23 and a quick ratio of 1.23.
In related news, Director Martin Salinas purchased 6,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were bought at an average price of $16.37 per share, with a total value of $98,220.00. Following the acquisition, the director now owns 10,590 shares of the company’s stock, valued at approximately $173,358.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several brokerages have recently commented on GPP. Stephens set a $21.00 target price on Green Plains Partners and gave the company a “buy” rating in a research note on Wednesday, July 25th. BidaskClub upgraded Green Plains Partners from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. TheStreet upgraded Green Plains Partners from a “d+” rating to a “c+” rating in a research note on Monday, June 25th. Zacks Investment Research downgraded Green Plains Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, August 3rd. Finally, Robert W. Baird set a $20.00 target price on Green Plains Partners and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.00.
About Green Plains Partners
Green Plains Partners LP provides fuel storage and transportation services. It acquires, owns, develops, and operates ethanol and fuel storage tanks, terminals, transportation assets, and other related assets and businesses. The company owns or leases 39 ethanol storage facilities and approximately 61 acres of land.
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