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Green Plains Partners LPInforme acción NasdaqGM:GPP

Capitalización bursátil US$286.4m
Precio de las acciones
n/a
US$16
n/adescuento intrínseco
1Y-6.7%
7D-0.5%
Valor de la cartera
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Green Plains Partners LP

Informe acción NasdaqGM:GPP

Capitalización de mercado: US$286.4m

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Green Plains Partners (GPP) Resumen de Acciones

Green Plains Partners LP provides fuel storage and transportation services in the United States. Saber más

Análisis fundamental de GPP
Puntuación del snowflake
Valoración3/6
Crecimiento futuro0/6
Rendimiento pasado1/6
Salud financiera2/6
Dividendos2/6

Recompensas

Cotiza un 57.4% por debajo de nuestra estimación de su valor justo

Análisis de riesgos

Los beneficios han disminuido un 6.6% al año en los últimos 5 años

El dividendo de 14.78% no está bien cubierto por las ganancias o los flujos de caja libres

GPP tiene patrimonio neto negativo.

Tiene un alto nivel de endeudamiento


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Competidores de Green Plains Partners LP

Historial de precios y rendimiento

Resumen de las cotizaciones máximas, mínimas y variaciones del Green Plains Partners
Precios históricos de las acciones
Precio actual de la acciónUS$12.31
Máximo en las últimas 52 semanasUS$16.25
Mínimo de 52 semanasUS$11.72
Beta0.75
Cambio en 1 mes-1.20%
Variación en 3 meses-10.34%
Cambio de 1 año-6.67%
Variación en 3 años26.91%
Variación en 5 años-14.63%
Variación desde la OPV-23.01%

Noticias y actualizaciones recientes

Recent updates

Seeking Alpha • Oct 20

Green Plains Partners declares $0.455 dividend

Green Plains Partners (NASDAQ:GPP) declares $0.455/share quarterly dividend, 1.1% increase from prior dividend of $0.450. Forward yield 14.39% Payable Nov. 14; for shareholders of record Nov. 4; ex-div Nov. 3. See GPP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Aug 21

Green Plains Partners: Maybe Or Maybe Not

The partnership balance sheet is in good shape. The distribution coverage is skimpy even though the distribution was just raised. The generous yield reflects parent company issues. The parent company could be forced to bankruptcy and even liquidate at some point unless a profit recovery occurs (probably soon). That means the partnership yield is compensation for extra risk and therefore does not represent a bargain. (Note: This article appeared in the newsletter on June 18, 2022 and has been updated as needed.) The argument for Green Plains Partners LP (GPP) has long been that the partnership is in good shape. The partnership further increased the distribution to $.45 per share. So, let us get in and enjoy a generous distribution. The distribution coverage is a little skimpy at 1.06. But the debt ratio level at just under 1 is one of the best for this type of company among those I follow. In this case though, the distribution indicates trouble with the main customer, not the midstream. Sometimes that can be every bit as bad or worse than trouble with the midstream partnership itself. Operations Green Plains Partners appears similar to many midstream companies that I follow. The company transports mainly ethanol or stores it while providing some ancillary services to get the mission accomplished. The company's operations are somewhat protected by volume commitments and there is a long-term relationship with the major customer. The biggest difference is that the main customer is in the ethanol (and related) business. Should that customer run into trouble, then there is a real threat of that customer liquidating and the service provided by this midstream would not be needed any more. That is a major difference from oil and gas. With oil and gas, should the main customer (if there is one) run into financial trouble, then many times the wells continue to produce. Therefore, the service provided by the midstream company continues to be needed even if volumes decline. Minimum volume commitments are likely found to be reasonable and enforceable. So, there is an excellent probability that a midstream company will continue with the business of a major customer even if that customer ends up in bankruptcy and possibly liquidates. The Main Customer The major customer in this case is Green Plains (GPRE). That customer has not shown a profit for common shareholders in the three years listed in the latest annual report. Furthermore, cash flow in the latest fiscal year report all but evaporated (cash flow from operating activities). The company did move into a profitable report with the second quarter. But it will take more than that to relieve market anxiety about the main customer. The company reports being in compliance with all the covenants listed in the debt agreements. That always helps. But a lack of profits even in a cyclical industry can be a warning sign of trouble ahead if a turnaround does not happen fast. Furthermore, the company lists some standard warnings about the debt, the debt levels, the covenants and the ability to continue financing the debt that any investor should read before investing in this company. Debt, and commodities often do not get along very well. So, it is no surprise that this company has listed a few dispositions in the annual report. The company did raise cash in the latest fiscal year. But it did it by issuing debt. That can buy a company some time. But it is clear that a recovery is needed by this company (sooner rather than later). The fiscal first quarter likewise reported a loss. Working capital remained in good shape. Short term debt ballooned past $300 million. Long- and short-term debt in total exceed cash by a like amount. The financial position is clearly not moving forward. In the fiscal second quarter there remained a current portion of long-term debt (working capital type arrangement) on the balance sheet of approximately $300 million. Total debt was approximately $900 million. That is a lot for a company that has not reported a profit in three fiscal years until the current second quarter. Management did mention that they see some hopeful trends in the future. Should that happen, then a lot of what is discussed above will fade as debt gets rapidly reduced. Still the market has a legitimate concern about the length, duration, and "if it will even occur" of any future recovery. Partnership Common Units The common units themselves have had a lackluster response to a time when a lot of income vehicles are doing rather well. Green Plains Partners Common Unit History And Key Valuation Measures (Seeking Alpha Website August 20, 2022.) As shown above, the partnership units have not really responded well as the market has shifted emphasis to value and income vehicles as the latest "sure thing". That market trepidation is likely due to the parent company uncertainties discussed above. If that is the case, then the units are unlikely to respond positively until the parent company reports a few quarters of excellent results that relieve any debt worries that the market currently has. What did happen was a tepid response to the second quarter results of the parent company as that main customer reported a profit. The yield above represents a risk factor at the parent company level (not the partnership). Therefore, investors should expect a fluctuating double digit return until the market sees sufficient satisfactory results. Green Plains, the parent company, has an additional risk in that ethanol is sold to the fuel market but the source material for ethanol is usually corn. Ethanol has other sources that can compete to some extent with corn. These two commodities vary in unrelated fashion. Therefore, it is very possible for corn prices to be "sky high" while fuel prices are very low. That would create a near disastrous situation for the parent company. Currently it appears that the corn crop should come in with a decent volume to help aid some of the high food cost situation. We still have to get through summer and all the weather risks that come with that season. But a decent corn crop would be good news for this company as fuel costs (and raw material costs) are fairly high right now. So, the ingredients of a profit recovery appear to be in place.
Seeking Alpha • Aug 02

Green Plains Partners GAAP EPS of $0.44, revenue of $19.65M

Green Plains Partners press release (NASDAQ:GPP): Q2 GAAP EPS of $0.44. Revenue of $19.65M (-0.3% Y/Y).
Seeking Alpha • Jul 21

Green Plains Partners raise dividend by 1% to $0.45

Green Plains Partners (NASDAQ:GPP) declares $0.45/share quarterly dividend, 1.1% increase from prior dividend of $0.45. Forward yield 14.14% Payable Aug. 12; for shareholders of record Aug. 5; ex-div Aug. 4. See GPP Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Feb 14

Green Plains Partners: A Quiet Year Ahead, Luckily There's A Safe 12% Yield To Enjoy

After significantly reducing their distributions during 2020, thankfully 2021 saw them lifted higher again with a very high 12% yield returning. Thanks to their steady cash flow performance that is underpinned by long-term minimum volume commitments, they should produce adequate free cash flow to cover this very high yield. When looking elsewhere, management has given no indications that any meaningful events are on the horizon during 2022, and thus it appears to be a quiet year ahead. Their financial position is now very healthy with very low leverage and strong liquidity, which helps support their distributions. Given the prospects to simply sit back and collect a very high double-digit yield, I still believe that maintaining my strong buy rating is appropriate.
Seeking Alpha • Nov 05

Green Plains Partners: The 11%+ Yield Returns With A 50%+ Potential Upside

Green Plains Partners have sent their distributions surging by more than 200% after refinancing their credit facility. They can cover these new distribution payments with their ample free cash flow, although there is little scope for growth given their almost non-existent capital expenditure. Thanks to their very low leverage and strong liquidity, their financial position is very healthy and thus their distributions are safe and sustainable. Based upon my Monte Carlo Simulation, it appears that their intrinsic value is at least 50%+ higher than their current unit price even without any future growth. Given these very impressive prospects to generate significant alpha, I believe that upgrading my rating to very bullish is now appropriate.
Seeking Alpha • Aug 05

Green Plains Partners: Time To Get Bullish, Safe 10%+ Yield Is Coming Very Soon

Green Plains Partners has successfully shed their previously choking credit facility through refinancing and thus has flagged much higher distributions are coming very soon. Their commentary indicates that these are likely to result in a very high distribution yield of over 10%. Their cash flow performance continues to be steady and should be capable of adequately funding these with free cash flow. They also have a very healthy financial position to lend further support that has very low leverage and adequate liquidity. Whilst I have previously been wary of their units given their credit facility repayment schedule, now that this has been resolved, I believe that upgrading to a bullish rating is appropriate.

Rentabilidad de los accionistas

GPPUS Oil and GasMercado US
7D-0.5%3.1%-0.3%
1Y-6.7%38.2%26.7%

Rentabilidad vs. Industria: Los resultados de GPP fueron inferiores a los de la industria US Oil and Gas, que obtuvo un rendimiento del 38.2% el año pasado.

Rentabilidad vs. Mercado: GPP obtuvo unos resultados inferiores a los del mercado US, que fueron del 26.7% el año pasado.

Volatilidad de los precios

Is GPP's price volatile compared to industry and market?
GPP volatility
GPP Average Weekly Movement5.2%
Oil and Gas Industry Average Movement6.1%
Market Average Movement7.2%
10% most volatile stocks in US Market16.2%
10% least volatile stocks in US Market3.2%

Precio estable de las acciones: GPP no ha tenido una volatilidad de precios significativa en los últimos 3 meses en comparación con el mercado US.

Volatilidad a lo largo del tiempo: La volatilidad semanal de GPP (5%) se ha mantenido estable durante el año pasado.

Acerca de la empresa

FundadaEmpleadosCEOPágina web
2015n/aTodd Beckerwww.greenplainspartners.com

Resumen de fundamentos de Green Plains Partners LP

¿Cómo se comparan los beneficios e ingresos de Green Plains Partners con su capitalización de mercado?
Estadísticas fundamentales de GPP
Capitalización bursátilUS$286.39m
Beneficios(TTM)US$37.52m
Ingresos (TTM)US$82.39m
7.6x
Ratio precio-beneficio (PE)
3.5x
Ratio precio-ventas (PS)

¿Está GPP sobrevalorada?

Ver valor justo y análisis de valoración

Beneficios e Ingresos

Estadísticas clave de rentabilidad del último informe de resultados (TTM)
Cuenta de resultados (TTM) de GPP
IngresosUS$82.39m
Coste de los ingresosUS$28.18m
Beneficio brutoUS$54.21m
Otros gastosUS$16.70m
BeneficiosUS$37.52m

Últimos beneficios comunicados

Sep 30, 2023

Próxima fecha de beneficios

n/a

Beneficios por acción (BPA)1.61
Margen bruto65.80%
Margen de beneficio neto45.54%
Ratio deuda/patrimonio-5,071.2%

¿Cómo se ha desempeñado GPP a largo plazo?

Ver rendimiento histórico y comparativa

Dividendos

14.8%
Rentabilidad actual por dividendo
113%
Ratio de pagos

Análisis de la empresa y estado de los datos financieros

DatosÚltima actualización (huso horario UTC)
Análisis de la empresa2024/01/10 10:57
Precio de las acciones al final del día2024/01/08 00:00
Beneficios2023/09/30
Ingresos anuales2022/12/31

Fuentes de datos

Los datos utilizados en nuestro análisis de empresas proceden de S&P Global Market Intelligence LLC. Los siguientes datos se utilizan en nuestro modelo de análisis para generar este informe. Los datos están normalizados, lo que puede introducir un retraso desde que la fuente está disponible.

PaqueteDatosMarco temporalEjemplo Fuente EE.UU. *
Finanzas de la empresa10 años
  • Cuenta de resultados
  • Estado de tesorería
  • Balance
Estimaciones del consenso de analistas+3 años
  • Previsiones financieras
  • Objetivos de precios de los analistas
Precios de mercado30 años
  • Precios de las acciones
  • Dividendos, escisiones y acciones
Propiedad10 años
  • Accionistas principales
  • Información privilegiada
Gestión10 años
  • Equipo directivo
  • Consejo de Administración
Principales avances10 años
  • Anuncios de empresas

* Ejemplo para valores de EE.UU., para no EE.UU. se utilizan formularios y fuentes normativas equivalentes.

A menos que se especifique lo contrario, todos los datos financieros se basan en un periodo anual, pero se actualizan trimestralmente. Esto se conoce como datos de los últimos doce meses (TTM) o de los últimos doce meses (LTM). Más información.

Modelo de análisis y copo de nieve

Los detalles del modelo de análisis utilizado para generar este informe están disponibles en nuestra página de Github, también tenemos guías sobre cómo utilizar nuestros informes y tutoriales en Youtube.

Conozca al equipo de talla mundial que diseñó y construyó el modelo de análisis Simply Wall St.

Métricas industriales y sectoriales

Simply Wall St calcula cada 6 horas nuestras métricas sectoriales y de sección. Los detalles de nuestro proceso están disponibles en Github.

Fuentes analistas

Green Plains Partners LP está cubierta por 8 analistas. 1 de esos analistas presentaron las estimaciones de ingresos o ganancias utilizadas como datos para nuestro informe. Las estimaciones de los analistas se actualizan a lo largo del día.

AnalistaInstitución
Ethan BellamyBaird
Charles FrattD.A. Davidson & Co.
Andrew WeiselMacquarie Research