Green Plains Partners LP (GPP) Receives Consensus Recommendation of “Buy” from Analysts
Green Plains Partners LP (NASDAQ:GPP) has received a consensus recommendation of “Buy” from the nine analysts that are covering the stock. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.25.
A number of equities analysts have recently issued reports on GPP shares. Stifel Nicolaus increased their target price on Green Plains Partners from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $20.00 price target on Green Plains Partners and gave the company a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research raised Green Plains Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, August 3rd. Royal Bank Of Canada raised their price target on Green Plains Partners from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $19.00 price target (up from $16.00) on shares of Green Plains Partners in a report on Thursday, August 4th.
Shares of Green Plains Partners (NASDAQ:GPP) traded up 0.27% during midday trading on Wednesday, hitting $18.25. The stock had a trading volume of 15,192 shares. The stock has a 50 day moving average price of $19.17 and a 200-day moving average price of $17.49. Green Plains Partners has a 52 week low of $12.41 and a 52 week high of $21.75. The stock has a market capitalization of $580.35 million, a price-to-earnings ratio of 11.28 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 9.23%. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, November 2nd. Green Plains Partners’s dividend payout ratio (DPR) is presently 103.70%.
In related news, EVP Michelle Mapes purchased 6,340 shares of Green Plains Partners stock in a transaction dated Friday, November 4th. The shares were acquired at an average cost of $19.10 per share, for a total transaction of $121,094.00. Following the transaction, the executive vice president now directly owns 34,500 shares of the company’s stock, valued at $658,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey S. Briggs purchased 2,000 shares of Green Plains Partners stock in a transaction dated Thursday, November 10th. The stock was bought at an average price of $18.09 per share, for a total transaction of $36,180.00. Following the completion of the transaction, the chief operating officer now directly owns 4,000 shares in the company, valued at $72,360. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. bought a new position in Green Plains Partners during the third quarter valued at about $230,000. Credit Suisse AG bought a new position in Green Plains Partners during the third quarter valued at about $291,000. BlackRock Institutional Trust Company N.A. bought a new position in Green Plains Partners during the second quarter valued at about $238,000. GSA Capital Partners LLP bought a new position in Green Plains Partners during the second quarter valued at about $259,000. Finally, Nwam LLC bought a new position in Green Plains Partners during the second quarter valued at about $276,000. Institutional investors and hedge funds own 49.28% of the company’s stock.
Green Plains Partners Company Profile
Green Plains Partners LP provides fee-based fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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