Raymond James Financial Services Advisors Inc. Raises Holdings in Green Plains Partners LP (GPP)
Raymond James Financial Services Advisors Inc. raised its stake in Green Plains Partners LP (NASDAQ:GPP) by 67.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,776 shares of the transportation company’s stock after acquiring an additional 9,141 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.07% of Green Plains Partners worth $426,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of GPP. Acrospire Investment Management LLC boosted its position in shares of Green Plains Partners by 54.7% during the second quarter. Acrospire Investment Management LLC now owns 6,370 shares of the transportation company’s stock worth $119,000 after buying an additional 2,252 shares during the period. WealthPLAN Partners LLC bought a new stake in Green Plains Partners during the second quarter worth approximately $210,000. Wedbush Securities Inc. bought a new stake in Green Plains Partners during the second quarter worth approximately $213,000. Arrowstreet Capital Limited Partnership bought a new stake in Green Plains Partners during the second quarter worth approximately $327,000. Finally, Sigma Planning Corp bought a new stake in Green Plains Partners during the second quarter worth approximately $503,000. Institutional investors own 44.81% of the company’s stock.
Shares of Green Plains Partners LP (GPP) opened at $20.00 on Friday. The company has a debt-to-equity ratio of -2.12, a quick ratio of 1.29 and a current ratio of 1.29. Green Plains Partners LP has a one year low of $17.05 and a one year high of $21.15. The stock has a market cap of $318.44, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 0.73 and a beta of 0.98.
Green Plains Partners (NASDAQ:GPP) last announced its earnings results on Wednesday, November 1st. The transportation company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Green Plains Partners had a net margin of 55.10% and a negative return on equity of 92.40%. The firm had revenue of $26.45 million for the quarter, compared to analyst estimates of $28.36 million. During the same period last year, the firm earned $0.44 earnings per share. Green Plains Partners’s revenue for the quarter was up .9% compared to the same quarter last year. equities research analysts anticipate that Green Plains Partners LP will post 1.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.46 per share. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 9.20%. The ex-dividend date is Thursday, November 2nd. Green Plains Partners’s payout ratio is 101.66%.
Several equities research analysts recently commented on GPP shares. Stifel Nicolaus reissued a “buy” rating and set a $22.00 target price on shares of Green Plains Partners in a report on Friday, July 28th. Roth Capital set a $24.00 price target on Green Plains Partners and gave the company a “buy” rating in a report on Tuesday, October 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $24.00 price target on shares of Green Plains Partners in a report on Thursday, August 24th. BidaskClub raised Green Plains Partners from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised Green Plains Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.80.
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Green Plains Partners Company Profile
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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