Zacks Investment Research upgraded shares of Green Plains Partners (NASDAQ:GPP) from a sell rating to a hold rating in a research report released on Tuesday, October 2nd.
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 analysts have also issued reports on GPP. BidaskClub lowered shares of Green Plains Partners from a hold rating to a sell rating in a research report on Wednesday, June 13th. ValuEngine raised shares of Green Plains Partners from a sell rating to a hold rating in a research report on Thursday, June 21st. TheStreet raised shares of Green Plains Partners from a d+ rating to a c+ rating in a report on Monday, June 25th. Stephens set a $21.00 price objective on shares of Green Plains Partners and gave the stock a buy rating in a report on Wednesday, July 25th. Finally, Stifel Nicolaus dropped their price objective on shares of Green Plains Partners from $19.00 to $18.00 and set a buy rating for the company in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Green Plains Partners has a consensus rating of Hold and an average target price of $18.60.
Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings data on Wednesday, August 1st. The transportation company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Green Plains Partners had a net margin of 54.40% and a negative return on equity of 89.66%. The company had revenue of $25.84 million for the quarter, compared to analyst estimates of $27.16 million. Equities analysts predict that Green Plains Partners will post 1.76 EPS for the current year.
The business also recently declared a dividend, which was paid on Monday, October 8th. Stockholders of record on Friday, August 3rd were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, August 2nd. Green Plains Partners’s dividend payout ratio (DPR) is currently 104.97%.
In other Green Plains Partners news, Director Martin Salinas acquired 6,000 shares of Green Plains Partners stock in a transaction on Friday, August 3rd. The shares were purchased at an average cost of $16.37 per share, with a total value of $98,220.00. Following the completion of the purchase, the director now owns 10,590 shares in the company, valued at $173,358.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in Green Plains Partners in the second quarter valued at approximately $206,000. Cavalier Investments LLC raised its holdings in Green Plains Partners by 41.1% in the second quarter. Cavalier Investments LLC now owns 17,242 shares of the transportation company’s stock worth $295,000 after purchasing an additional 5,024 shares during the period. Western Standard LLC acquired a new stake in Green Plains Partners in the second quarter worth $366,000. Stifel Financial Corp raised its holdings in Green Plains Partners by 16.5% in the first quarter. Stifel Financial Corp now owns 24,899 shares of the transportation company’s stock worth $434,000 after purchasing an additional 3,526 shares during the period. Finally, Raymond James & Associates raised its holdings in Green Plains Partners by 11.4% in the second quarter. Raymond James & Associates now owns 40,143 shares of the transportation company’s stock worth $688,000 after purchasing an additional 4,123 shares during the period. 16.55% of the stock is currently owned by hedge funds and other institutional investors.
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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