StockNews.com Begins Coverage on Green Plains Partners (NASDAQ:GPP)

StockNews.com started coverage on shares of Green Plains Partners (NASDAQ:GPP) in a report released on Thursday. The brokerage issued a buy rating on the transportation company’s stock.

Green Plains Partners Stock Performance

Shares of Green Plains Partners stock opened at $12.78 on Thursday. Green Plains Partners has a 1 year low of $11.72 and a 1 year high of $16.25. The company has a market capitalization of $297.33 million, a P/E ratio of 7.89 and a beta of 0.80. The company’s fifty day moving average is $14.08 and its two-hundred day moving average is $13.47.

Green Plains Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 14.24%. The ex-dividend date of this dividend was Thursday, November 2nd. Green Plains Partners’s dividend payout ratio (DPR) is presently 112.35%.

Institutional Trading of Green Plains Partners

Several hedge funds have recently made changes to their positions in GPP. JPMorgan Chase & Co. lifted its stake in shares of Green Plains Partners by 12.4% in the 1st quarter. JPMorgan Chase & Co. now owns 274,674 shares of the transportation company’s stock worth $3,889,000 after acquiring an additional 30,280 shares during the period. EVR Research LP lifted its stake in shares of Green Plains Partners by 1.0% in the first 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 during the period. Goldman Sachs Group Inc. lifted its stake in shares of Green Plains Partners by 19.9% in the first 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 period. Royal Bank of Canada lifted its stake in shares of Green Plains Partners by 28.6% in the first quarter. Royal Bank of Canada now owns 4,500 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,000 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of Green Plains Partners in the first quarter valued at about $157,000. Institutional investors and hedge funds own 16.50% of the company’s stock.

Green Plains Partners Company Profile

Green Plains Partners LP provides fuel storage and transportation services in the United States. The company acquires, owns, develops, and operates ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. It also owns and operates a fleet of 19 trucks and tankers for transportation of ethanol and other products.