Green Plains Partners (NASDAQ:GPP) Posts Earnings Results, Beats Estimates By $0.12 EPS

Green Plains Partners (NASDAQ:GPP) issued its quarterly earnings results on Monday. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12, Bloomberg Earnings reports. Green Plains Partners had a net margin of 54.78% and a negative return on equity of 71.28%. The business had revenue of $20.83 million for the quarter, compared to analyst estimates of $21.27 million.

GPP stock traded up $0.95 during trading on Tuesday, reaching $13.60. 2,064 shares of the company were exchanged, compared to its average volume of 42,567. The stock has a market cap of $301.94 million, a P/E ratio of 8.65 and a beta of 0.50. Green Plains Partners has a 52-week low of $12.53 and a 52-week high of $16.47. The firm’s 50 day moving average is $13.94.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, August 2nd will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 13.97%. The ex-dividend date of this dividend is Thursday, August 1st. Green Plains Partners’s dividend payout ratio is currently 119.50%.

GPP has been the topic of a number of recent analyst reports. ValuEngine lowered shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. BidaskClub lowered shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Finally, Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.25.

A number of hedge funds have recently added to or reduced their stakes in the stock. Sigma Planning Corp boosted its holdings in Green Plains Partners by 3.6% during the second quarter. Sigma Planning Corp now owns 43,174 shares of the transportation company’s stock worth $604,000 after buying an additional 1,499 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Green Plains Partners by 68,100.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,728 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 2,724 shares in the last quarter. Advantage Investment Management LLC purchased a new stake in shares of Green Plains Partners in the second quarter valued at about $249,000. Westside Investment Management Inc. purchased a new stake in shares of Green Plains Partners in the second quarter valued at about $3,992,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Green Plains Partners by 9.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 50,934 shares of the transportation company’s stock valued at $807,000 after purchasing an additional 4,479 shares in the last quarter. 15.80% 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 32 ethanol storage facilities and approximately 49 acres of land.

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Earnings History for Green Plains Partners (NASDAQ:GPP)

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