Green Plains Partners’ (GPP) “Buy” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reissued their buy rating on shares of Green Plains Partners LP (NASDAQ:GPP) in a report published on Thursday morning. The brokerage currently has a $24.00 price objective on the transportation company’s stock.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus restated a buy rating and issued a $22.00 target price on shares of Green Plains Partners in a report on Friday, July 28th. BidaskClub cut Green Plains Partners from a hold rating to a sell rating in a report on Wednesday, August 9th. Bank of America Corp cut Green Plains Partners from a buy rating to an underperform rating and decreased their target price for the stock from $22.00 to $19.00 in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a buy rating and issued a $22.00 target price on shares of Green Plains Partners in a report on Tuesday, June 6th. Finally, Zacks Investment Research cut Green Plains Partners from a buy rating to a hold rating in a report on Thursday, May 4th. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $22.07.
Green Plains Partners (GPP) traded up 0.27% during mid-day trading on Thursday, hitting $18.60. 5,229 shares of the company’s stock traded hands. Green Plains Partners has a one year low of $17.05 and a one year high of $21.75. The stock has a market cap of $591.72 million, a PE ratio of 10.28 and a beta of 0.98. The firm’s 50-day moving average price is $18.95 and its 200-day moving average price is $19.36.
Green Plains Partners (NASDAQ:GPP) last issued its earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $25.10 million during the quarter, compared to analyst estimates of $29.62 million. Green Plains Partners had a negative return on equity of 90.84% and a net margin of 54.97%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts forecast that Green Plains Partners will post $1.85 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, August 4th were issued a dividend of $0.45 per share. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, August 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.70%. Green Plains Partners’s payout ratio is currently 100.00%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mondrian Investment Partners LTD increased its position in shares of Green Plains Partners by 107.3% in the second quarter. Mondrian Investment Partners LTD now owns 179,596 shares of the transportation company’s stock worth $3,358,000 after buying an additional 92,963 shares in the last quarter. Arrow Investment Advisors LLC acquired a new position in shares of Green Plains Partners during the second quarter worth $638,000. Sigma Planning Corp acquired a new position in shares of Green Plains Partners during the second quarter worth $503,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Green Plains Partners during the second quarter worth $327,000. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of Green Plains Partners during the first quarter worth $322,000. Institutional investors and hedge funds own 55.39% of the company’s stock.
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).
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