Green Plains Renewable Energy Inc. (NASDAQ:GPRE) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, The Fly reports.
Separately, Zacks Investment Research raised shares of Green Plains Renewable Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, July 14th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Green Plains Renewable Energy presently has an average rating of “Buy” and an average price target of $25.86.
Shares of Green Plains Renewable Energy (NASDAQ:GPRE) opened at 25.96 on Tuesday. Green Plains Renewable Energy has a 12-month low of $12.39 and a 12-month high of $26.82. The firm has a 50 day moving average price of $24.63 and a 200-day moving average price of $20.16. The company’s market cap is $992.81 million.
Green Plains Renewable Energy (NASDAQ:GPRE) last posted its earnings results on Monday, August 1st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Green Plains Renewable Energy had a negative net margin of 0.43% and a negative return on equity of 1.41%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $803.62 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts expect that Green Plains Renewable Energy will post $0.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were issued a $0.12 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 dividend on an annualized basis and a yield of 1.85%. Green Plains Renewable Energy’s payout ratio is -137.14%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its stake in Green Plains Renewable Energy by 1,998.0% in the second quarter. Van ECK Associates Corp now owns 1,586,627 shares of the company’s stock worth $31,288,000 after buying an additional 1,511,002 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Green Plains Renewable Energy during the second quarter worth approximately $14,827,000. Bessemer Group Inc. acquired a new stake in Green Plains Renewable Energy during the first quarter worth approximately $6,611,000. Laurion Capital Management LP acquired a new stake in Green Plains Renewable Energy during the second quarter worth approximately $7,797,000. Finally, Denver Investment Advisors LLC increased its stake in Green Plains Renewable Energy by 22.3% in the second quarter. Denver Investment Advisors LLC now owns 1,444,624 shares of the company’s stock worth $28,488,000 after buying an additional 263,696 shares during the last quarter. Institutional investors own 98.23% of the company’s stock.
About Green Plains Renewable Energy
Green Plains Inc (Green Plains) is a vertically integrated producer, marketer and distributor of ethanol. The Company operates through four segments: Ethanol Production, Agribusiness, Marketing and Distribution, and Partnership. The Company’s ethanol production segment is engaged in the production of ethanol and related distillers grain.
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