Green Plains Partners (NASDAQ:GPP) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Green Plains Partners (NASDAQ:GPP) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Green Plains Partners LP provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring storage tanks, terminals, transportation assets and other related assets and businesses. Green Plains Partners LP is based in Omaha, Nebraska. “

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $14.00 target price on shares of Green Plains Partners and gave the stock a hold rating in a research report on Wednesday, August 7th. BidaskClub upgraded shares of Green Plains Partners from a strong sell rating to a sell rating in a research report on Friday, October 4th. Finally, ValuEngine cut shares of Green Plains Partners from a sell rating to a strong sell rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average target price of $16.00.

Shares of NASDAQ:GPP opened at $13.22 on Wednesday. Green Plains Partners has a fifty-two week low of $12.53 and a fifty-two week high of $16.47. The firm has a 50-day simple moving average of $13.14 and a 200 day simple moving average of $14.22. The company has a market cap of $303.40 million, a PE ratio of 8.31 and a beta of 0.53.

Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Green Plains Partners had a net margin of 54.48% and a negative return on equity of 65.23%. The business had revenue of $20.83 million during the quarter, compared to the consensus estimate of $21.27 million. As a group, analysts expect that Green Plains Partners will post 1.8 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wiley BROS. Aintree Capital LLC bought a new position in Green Plains Partners in the 3rd quarter worth about $157,000. Virtus ETF Advisers LLC acquired a new stake in shares of Green Plains Partners in the 2nd quarter worth approximately $2,267,000. HighTower Advisors LLC lifted its stake in shares of Green Plains Partners by 24.0% in the 2nd quarter. HighTower Advisors LLC now owns 108,587 shares of the transportation company’s stock worth $1,519,000 after acquiring an additional 21,014 shares during the period. LPL Financial LLC lifted its stake in shares of Green Plains Partners by 5.3% in the 2nd quarter. LPL Financial LLC now owns 48,977 shares of the transportation company’s stock worth $686,000 after acquiring an additional 2,444 shares during the period. Finally, Sigma Planning Corp lifted its stake in shares of Green Plains Partners by 3.6% in the 2nd quarter. Sigma Planning Corp now owns 43,174 shares of the transportation company’s stock worth $604,000 after acquiring an additional 1,499 shares during the period. Hedge funds and other institutional investors own 16.03% of the company’s stock.

Green Plains Partners Company Profile

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 32 ethanol storage facilities and approximately 49 acres of land.

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