Green Plains Partners LP (NASDAQ:GPP) has earned a consensus rating of “Buy” from the six brokerages that are covering the firm. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $21.13.
Several research firms recently commented on GPP. Zacks Investment Research upgraded Green Plains Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $22.00 target price on shares of Green Plains Partners in a research report on Friday, March 24th.
In other news, CEO Todd A. Becker purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $19.96 per share, with a total value of $99,800.00. Following the purchase, the chief executive officer now owns 62,556 shares in the company, valued at approximately $1,248,617.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently modified their holdings of GPP. HITE Hedge Asset Management LLC purchased a new position in shares of Green Plains Partners during the first quarter worth about $322,000. Walnut Private Equity Partners LLC purchased a new position in shares of Green Plains Partners during the first quarter worth about $402,000. Guggenheim Capital LLC raised its position in shares of Green Plains Partners by 9.6% in the fourth quarter. Guggenheim Capital LLC now owns 67,940 shares of the transportation company’s stock worth $1,345,000 after buying an additional 5,945 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Green Plains Partners by 75.8% in the fourth quarter. GSA Capital Partners LLP now owns 72,402 shares of the transportation company’s stock worth $1,434,000 after buying an additional 31,210 shares during the last quarter. Finally, Mondrian Investment Partners LTD purchased a new position in shares of Green Plains Partners during the first quarter worth about $1,741,000. 48.29% of the stock is owned by hedge funds and other institutional investors.
Green Plains Partners (NASDAQ:GPP) traded up 2.36% during mid-day trading on Monday, hitting $19.50. The company had a trading volume of 27,046 shares. The firm has a market cap of $620.10 million, a P/E ratio of 11.14 and a beta of 1.00. The stock’s 50 day moving average price is $19.93 and its 200 day moving average price is $19.60. Green Plains Partners has a 52-week low of $13.40 and a 52-week high of $21.75.
Green Plains Partners (NASDAQ:GPP) last posted its earnings results on Monday, May 1st. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by $0.03. Green Plains Partners had a net margin of 54.74% and a negative return on equity of 348.14%. The business earned $27.20 million during the quarter, compared to analyst estimates of $29.48 million. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Green Plains Partners will post $2.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, May 5th will be paid a dividend of $0.44 per share. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 9.03%. The ex-dividend date is Wednesday, May 3rd. Green Plains Partners’s dividend payout ratio (DPR) is presently 98.29%.
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).