Green Plains Partners LP (GPP) Receives $18.50 Consensus Target Price from Brokerages

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Shares of Green Plains Partners LP (NASDAQ:GPP) have received an average recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.00.

A number of brokerages recently weighed in on GPP. Stifel Nicolaus lowered their price objective on shares of Green Plains Partners from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. BidaskClub upgraded shares of Green Plains Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Green Plains Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Robert W. Baird restated a “buy” rating and set a $18.00 price objective (down previously from $20.00) on shares of Green Plains Partners in a research report on Friday, September 14th. Finally, ValuEngine downgraded shares of Green Plains Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd.

Shares of NASDAQ GPP opened at $14.75 on Wednesday. The company has a market capitalization of $474.25 million, a PE ratio of 8.17, a PEG ratio of 0.56 and a beta of 0.57. Green Plains Partners has a 52-week low of $14.40 and a 52-week high of $20.25. The company has a debt-to-equity ratio of -2.06, a quick ratio of 1.23 and a current ratio of 1.23.

Green Plains Partners (NASDAQ:GPP) last issued its earnings results on Wednesday, August 1st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The firm had revenue of $25.84 million during the quarter, compared to the consensus estimate of $27.16 million. Green Plains Partners had a negative return on equity of 89.66% and a net margin of 54.40%. On average, research analysts anticipate that Green Plains Partners will post 1.76 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Monday, October 8th. Shareholders of record on Friday, August 3rd were issued a dividend of $0.475 per share. The ex-dividend date was Thursday, August 2nd. Green Plains Partners’s dividend payout ratio is currently 104.97%.

In other Green Plains Partners news, Director Martin Salinas bought 6,000 shares of Green Plains Partners stock in a transaction on Friday, August 3rd. The stock was acquired at an average cost of $16.37 per share, with a total value of $98,220.00. Following the completion of the acquisition, the director now owns 10,590 shares in the company, valued at $173,358.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

A number of hedge funds have recently made changes to their positions in GPP. Luzich Partners LLC purchased a new stake in Green Plains Partners during the second quarter valued at approximately $2,130,000. Bank of America Corp DE increased its holdings in Green Plains Partners by 673.7% during the second quarter. Bank of America Corp DE now owns 63,904 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 55,645 shares during the last quarter. Western Standard LLC purchased a new stake in Green Plains Partners during the second quarter valued at approximately $366,000. GSA Capital Partners LLP purchased a new stake in Green Plains Partners during the second quarter valued at approximately $206,000. Finally, Cavalier Investments LLC increased its stake in shares of Green Plains Partners by 41.1% in the second quarter. Cavalier Investments LLC now owns 17,242 shares of the transportation company’s stock worth $295,000 after purchasing an additional 5,024 shares in the last quarter. 16.55% of the stock is owned by institutional investors and hedge funds.

About Green Plains Partners

Green Plains Partners LP provides fuel storage and transportation services. It acquires, owns, develops, and operates ethanol and fuel storage tanks, terminals, transportation assets, and other related assets and businesses. The company owns or leases 39 ethanol storage facilities and approximately 61 acres of land.

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