Green Plains Partners (GPP) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of Green Plains Partners (NASDAQ:GPP) from a sell rating to a hold rating in a report released on Friday.
A number of other brokerages also recently issued reports on GPP. ValuEngine downgraded Green Plains Partners from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. Zacks Investment Research raised Green Plains Partners from a strong sell rating to a hold rating in a research note on Monday, February 12th. Stifel Nicolaus raised Green Plains Partners from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Friday, February 9th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $24.00 target price on shares of Green Plains Partners in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $21.80.
Green Plains Partners (NASDAQ GPP) opened at $17.90 on Friday. Green Plains Partners has a 52 week low of $16.50 and a 52 week high of $21.00. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of -2.15. The company has a market capitalization of $569.42, a price-to-earnings ratio of 9.89, a P/E/G ratio of 0.60 and a beta of 0.65.
The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were paid a $0.47 dividend. The ex-dividend date was Thursday, February 1st. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.50%. Green Plains Partners’s dividend payout ratio (DPR) is 103.87%.
In other Green Plains Partners news, EVP Michelle Mapes sold 2,692 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $19.10, for a total value of $51,417.20. Following the completion of the sale, the executive vice president now directly owns 33,148 shares of the company’s stock, valued at approximately $633,126.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tourbillon Capital Partners, L sold 1,209,043 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $16.02, for a total value of $19,368,868.86. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp purchased a new position in shares of Green Plains Partners during the 3rd quarter worth $250,000. Virtu Financial LLC purchased a new position in shares of Green Plains Partners during the 4th quarter worth $312,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Green Plains Partners by 67.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,776 shares of the transportation company’s stock worth $426,000 after purchasing an additional 9,141 shares during the period. Sigma Planning Corp grew its holdings in shares of Green Plains Partners by 12.8% during the 3rd quarter. Sigma Planning Corp now owns 30,335 shares of the transportation company’s stock worth $610,000 after purchasing an additional 3,449 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Green Plains Partners by 48.4% during the 4th quarter. Raymond James & Associates now owns 33,535 shares of the transportation company’s stock worth $627,000 after purchasing an additional 10,937 shares during the period. Institutional investors and hedge funds own 46.00% of the company’s stock.
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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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