McIlrath & Eck LLC Makes New Investment in Green Plains Partners LP (NASDAQ:GPP)

McIlrath & Eck LLC bought a new position in Green Plains Partners LP (NASDAQ:GPPGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,271 shares of the transportation company’s stock, valued at approximately $32,000.

A number of other large investors also recently bought and sold shares of GPP. B. Riley Financial Inc. bought a new stake in shares of Green Plains Partners during the 3rd quarter valued at $221,000. Citigroup Inc. grew 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 valued at $361,000 after acquiring an additional 10,337 shares during the period. LPL Financial LLC grew 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 valued at $641,000 after acquiring an additional 3,704 shares during the period. Bank of America Corp DE grew its position in shares of Green Plains Partners by 40.8% during the 4th quarter. Bank of America Corp DE now owns 25,367 shares of the transportation company’s stock valued at $361,000 after acquiring an additional 7,345 shares during the period. Finally, Royal Bank of Canada grew 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 valued at $50,000 after acquiring an additional 1,250 shares during the period. 22.30% of the stock is owned by institutional investors and hedge funds.

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

In other news, insider Michelle Mapes purchased 3,500 shares of the business’s stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink.

Shares of NASDAQ GPP remained flat at $$14.45 during mid-day trading on Friday. 81,906 shares of the stock traded hands, compared to its average volume of 56,564. The business has a 50-day moving average of $13.87 and a 200-day moving average of $14.29. 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 company has a market capitalization of $335.67 million, a P/E ratio of 8.45 and a beta of 0.82. Green Plains Partners LP has a 52-week low of $11.24 and a 52-week high of $16.02.

Green Plains Partners (NASDAQ:GPPGet Rating) last issued its quarterly earnings results on Friday, February 11th. The transportation company reported $0.42 EPS for the quarter. The company had revenue of $19.09 million for the quarter. Green Plains Partners had a net margin of 51.45% and a negative return on equity of 1,523.24%.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, May 6th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 12.32%. This is an increase from Green Plains Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, May 5th. Green Plains Partners’s dividend payout ratio is presently 102.92%.

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.

Further Reading

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

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