Raymond James Financial Services Advisors Inc. lifted its holdings in Green Plains Partners LP (NASDAQ:GPP) by 67.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,776 shares of the transportation company’s stock after purchasing 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 filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrow Investment Advisors LLC acquired a new stake in Green Plains Partners during the second quarter valued at approximately $638,000. Wedbush Securities Inc. acquired a new stake in Green Plains Partners during the second quarter valued at approximately $213,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Green Plains Partners in the 2nd quarter worth approximately $327,000. Sigma Planning Corp acquired a new position in shares of Green Plains Partners in the 2nd quarter worth approximately $503,000. Finally, Mondrian Investment Partners LTD boosted its holdings in shares of Green Plains Partners by 107.3% in the 2nd quarter. Mondrian Investment Partners LTD now owns 179,596 shares of the transportation company’s stock worth $3,358,000 after acquiring an additional 92,963 shares in the last quarter. Hedge funds and other institutional investors own 45.56% of the company’s stock.
Shares of Green Plains Partners LP (NASDAQ GPP) opened at $19.05 on Tuesday. The company has a debt-to-equity ratio of -2.13, a current ratio of 1.30 and a quick ratio of 1.30. Green Plains Partners LP has a 1 year low of $17.30 and a 1 year high of $21.15. The company has a market cap of $300.93, a price-to-earnings ratio of 10.44, a P/E/G ratio of 0.70 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 for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.04). The company had revenue of $26.45 million during the quarter, compared to analyst estimates of $28.36 million. Green Plains Partners had a negative return on equity of 92.23% and a net margin of 55.10%. Green Plains Partners’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. research analysts expect that Green Plains Partners LP will post 1.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.66%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, November 2nd. Green Plains Partners’s dividend payout ratio is currently 101.66%.
GPP has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 target price on shares of Green Plains Partners in a report on Friday, July 28th. Bank of America Corporation cut shares of Green Plains Partners from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, August 2nd. Roth Capital set a $24.00 price objective on shares of Green Plains Partners and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub cut shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Robert W. Baird reiterated a “buy” rating and set a $24.00 target price on shares of Green Plains Partners in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Green Plains Partners currently has a consensus rating of “Hold” and a consensus price target 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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