Green Plains Partners (NASDAQ:GPP) Shares Pass Below 50-Day Moving Average of $13.37

Shares of Green Plains Partners LP (NASDAQ:GPPGet Rating) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $13.37 and traded as low as $11.94. Green Plains Partners shares last traded at $12.06, with a volume of 85,194 shares changing hands.

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

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 25.60. The company has a market cap of $280.13 million, a PE ratio of 7.09 and a beta of 0.76. The stock has a 50 day moving average price of $13.37 and a 200 day moving average price of $13.88.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, May 6th were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 14.76%. This is a positive change from Green Plains Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, May 5th. Green Plains Partners’s dividend payout ratio (DPR) is presently 104.71%.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in Green Plains Partners by 49.8% in the first quarter. Bank of America Corp DE now owns 38,006 shares of the transportation company’s stock worth $538,000 after acquiring an additional 12,639 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Green Plains Partners in the 1st quarter worth about $157,000. Royal Bank of Canada boosted its stake in Green Plains Partners by 28.6% in the 1st quarter. Royal Bank of Canada now owns 4,500 shares of the transportation company’s stock worth $64,000 after purchasing an additional 1,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Green Plains Partners by 19.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 208,739 shares of the transportation company’s stock valued at $2,956,000 after purchasing an additional 34,656 shares during the last quarter. Finally, EVR Research LP increased its stake in Green Plains Partners by 1.0% during the 1st quarter. EVR Research LP now owns 639,800 shares of the transportation company’s stock valued at $9,060,000 after purchasing an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 21.54% of the company’s stock.

Green Plains Partners Company Profile (NASDAQ:GPP)

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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