State of New Jersey Common Pension Fund D Lowers Stake in Green Plains Partners LP (NASDAQ:GPP)

State of New Jersey Common Pension Fund D lowered its stake in shares of Green Plains Partners LP (NASDAQ:GPPGet Rating) by 21.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 224,266 shares of the transportation company’s stock after selling 62,629 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.97% of Green Plains Partners worth $3,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GPP. Royal Bank of Canada boosted its position in shares of Green Plains Partners by 50.0% during the 3rd quarter. Royal Bank of Canada now owns 3,750 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,250 shares during the period. B. Riley Financial Inc. purchased a new position in shares of Green Plains Partners during the 3rd quarter worth approximately $221,000. Citigroup Inc. boosted its position in shares of Green Plains Partners by 60.9% during the 3rd quarter. Citigroup Inc. now owns 27,302 shares of the transportation company’s stock worth $361,000 after purchasing an additional 10,337 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Green Plains Partners by 8.3% during the 3rd quarter. LPL Financial LLC now owns 48,469 shares of the transportation company’s stock worth $641,000 after purchasing an additional 3,704 shares during the period. 22.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:GPP opened at $14.02 on Monday. The company’s fifty day moving average price is $13.90 and its 200 day moving average price is $14.23. Green Plains Partners LP has a 12 month low of $11.24 and a 12 month high of $16.02. The company has a debt-to-equity ratio of 25.82, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $325.66 million, a P/E ratio of 8.20 and a beta of 0.82.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Shareholders of record on Friday, February 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 3rd. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.44. This represents a $1.76 dividend on an annualized basis and a yield of 12.55%. Green Plains Partners’s payout ratio is currently 102.92%.

Several equities analysts have commented on the stock. Stifel Nicolaus cut shares of Green Plains Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $16.00 to $15.00 in a research report on Wednesday, February 16th. StockNews.com assumed coverage on shares of Green Plains Partners in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

In other Green Plains Partners news, insider Michelle Mapes acquired 3,500 shares of the company’s stock in a transaction on Friday, February 18th. The shares were bought at an average cost of $13.79 per share, for a total transaction of $48,265.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Green Plains Partners Profile (Get Rating)

Green Plains Partners LP provides fuel storage and transportation services in the United States. It acquires, owns, develops, and operates ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The company owns or leases 29 ethanol storage facilities and approximately 43 acres of land; and 4 fuel terminals in Alabama, Louisiana, Mississippi, and Oklahoma.

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

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