State of New Jersey Common Pension Fund D Invests $1.96 Million in Green Plains Partners LP (GPP) Stock

State of New Jersey Common Pension Fund D bought a new position in shares of Green Plains Partners LP (NASDAQ:GPP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 97,495 shares of the transportation company’s stock, valued at approximately $1,960,000. State of New Jersey Common Pension Fund D owned about 0.31% of Green Plains Partners at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in shares of Green Plains Partners by 0.8% during the second quarter. Citigroup Inc. now owns 64,311 shares of the transportation company’s stock valued at $1,203,000 after buying an additional 486 shares during the last quarter. Acrospire Investment Management LLC raised its position in Green Plains Partners by 54.7% in the second quarter. Acrospire Investment Management LLC now owns 6,370 shares of the transportation company’s stock worth $119,000 after purchasing an additional 2,252 shares in the last quarter. GSA Capital Partners LLP raised its position in Green Plains Partners by 13.5% in the second quarter. GSA Capital Partners LLP now owns 48,056 shares of the transportation company’s stock worth $899,000 after purchasing an additional 5,718 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Green Plains Partners by 67.0% in the second 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 in the last quarter. Finally, Walnut Private Equity Partners LLC raised its position in Green Plains Partners by 50.0% in the second quarter. Walnut Private Equity Partners LLC now owns 30,000 shares of the transportation company’s stock worth $561,000 after purchasing an additional 10,000 shares in the last quarter. 44.81% of the stock is owned by hedge funds and other institutional investors.

Shares of Green Plains Partners LP (NASDAQ: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. The company has a market cap of $636.24 million and a P/E ratio of 10.72. Green Plains Partners LP has a 52 week low of $17.05 and a 52 week high of $21.15.

Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Wednesday, November 1st. The transportation company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.04). The firm 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 92.40% and a net margin of 55.10%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. analysts anticipate that Green Plains Partners LP will post 1.83 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a dividend yield of 9.20%. Green Plains Partners’s payout ratio is currently 99.46%.

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Several research analysts recently issued reports on GPP shares. Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price target on shares of Green Plains Partners in a research report on Friday, July 28th. Roth Capital set a $24.00 price target on shares of Green Plains Partners and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Robert W. Baird reaffirmed a “buy” rating and set a $24.00 price objective on shares of Green Plains Partners in a research note on Thursday, August 24th. BidaskClub raised shares of Green Plains Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Green Plains Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.80.

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).

Institutional Ownership by Quarter for Green Plains Partners (NASDAQ:GPP)

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