HomeFinancial MarketsIs Green Plains Partners LP (GPP) stock Proving the Doubters Wrong?

Is Green Plains Partners LP (GPP) stock Proving the Doubters Wrong?

The Green Plains Partners (NASDAQ: GPP) stock recorded up 3.16% to $9.80. It is down 25.00% over the past month and 23.27% over the past year. Its price is 23.27% year-to-date and -33.20% over the past year.

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January 27, 2021, Green Plains Partners LP (NASDAQ: GPP) revealed that it has agreed to sell its Green Plains Ord ethanol facility and associated supply chain assets for a combined $27 million transfer of individual railcar leases. With this transaction, Green Plains will lower its minimum volume commitment by 14.75 million gallons per quarter.

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Under this agreement, the quarterly minimum volume commitment will be revised to 217.7 million gallons per quarter or 91% of the annual capacity of Green Plains Inc., and the maturity date will be extended one year as of June 30, 2029.

Green Plains Partners is expected to convey 180 of 2,450 railcars it manages through this transaction.

Typically, the transaction closes within 45 days of completing the Green Plains Ord LLC ethanol asset sale. Closing conditions will apply to the purchase agreement.

Both the general partner’s board of directors and the board’s conflicts committee, which consists entirely of independent directors, approved the terms of the transaction

Analysts Sentiment

Analysts for this stock project a consensus estimate price target of $13.50 over the next 12 months. At least one analyst believes that the Green Plains Partners LP stock could plunge to a low of $13.00. These two limits represent a potential upside of 24.62% or 30.0%.

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In terms of accuracy, analysts may not outperform the average, but the winners they pick tend to be big winners.

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