Roth Capital Analysts Give Green Plains Partners LP (NASDAQ:GPP) a $24.00 Price Target

Roth Capital set a $24.00 price target on Green Plains Partners LP (NASDAQ:GPP) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the transportation company’s stock.

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Green Plains Partners from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Zacks Investment Research cut Green Plains Partners from a buy rating to a hold rating in a research report on Thursday, May 4th. Stifel Nicolaus reiterated a buy rating and set a $22.00 price target on shares of Green Plains Partners in a research report on Friday, June 23rd. Royal Bank Of Canada reiterated a buy rating and set a $22.00 price target on shares of Green Plains Partners in a research report on Tuesday, June 6th. Finally, Bank of America Corporation cut Green Plains Partners from a buy rating to an underperform rating and decreased their price target for the company from $22.00 to $19.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $21.75.

Green Plains Partners (GPP) traded down 2.09% during trading on Wednesday, reaching $18.75. 86,364 shares of the company were exchanged. The stock has a market capitalization of $596.23 million, a price-to-earnings ratio of 10.36 and a beta of 0.98. Green Plains Partners has a one year low of $17.03 and a one year high of $21.75. The firm’s 50 day moving average price is $19.04 and its 200-day moving average price is $19.57.

Green Plains Partners (NASDAQ:GPP) last released its quarterly earnings data on Monday, July 31st. The transportation company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $29.62 million. Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.65%. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Green Plains Partners will post $1.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 9.60%. This is a boost from Green Plains Partners’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, August 2nd. Green Plains Partners’s dividend payout ratio is 100.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of GPP. Wedbush Securities Inc. bought a new position in Green Plains Partners during the second quarter valued at $213,000. Raymond James Financial Services Advisors Inc. boosted its position in Green Plains Partners by 11.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock valued at $274,000 after buying an additional 1,417 shares during the period. HITE Hedge Asset Management LLC bought a new position in Green Plains Partners during the first quarter valued at $322,000. Walnut Private Equity Partners LLC bought a new position in Green Plains Partners during the first quarter valued at $402,000. Finally, Sigma Planning Corp bought a new position in Green Plains Partners during the second quarter valued at $503,000. Institutional investors own 54.60% 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).