Global Partners (NYSE:GLP) had its price objective cut by research analysts at Barclays from $18.00 to $17.00 in a report issued on Tuesday. The firm presently has an “equal weight” rating on the energy company’s stock. Barclays’ target price suggests a potential upside of 0.29% from the company’s previous close.
GLP has been the subject of a number of other reports. Zacks Investment Research lowered shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. ValuEngine lowered shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, Stifel Nicolaus lowered shares of Global Partners from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research note on Tuesday, March 13th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.25.
NYSE:GLP opened at $16.95 on Tuesday. The stock has a market cap of $562.63, a price-to-earnings ratio of 12.19 and a beta of 0.86. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.31 and a quick ratio of 0.79. Global Partners has a fifty-two week low of $15.16 and a fifty-two week high of $20.86.
Global Partners (NYSE:GLP) last released its quarterly earnings data on Thursday, March 8th. The energy company reported $0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. Global Partners had a net margin of 0.66% and a return on equity of 8.89%. equities research analysts expect that Global Partners will post 0.49 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP grew its stake in shares of Global Partners by 12.2% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,166,610 shares of the energy company’s stock worth $36,172,000 after acquiring an additional 235,595 shares during the period. Deutsche Bank AG grew its stake in shares of Global Partners by 1,107.7% in the fourth quarter. Deutsche Bank AG now owns 159,410 shares of the energy company’s stock worth $2,662,000 after acquiring an additional 146,210 shares during the period. Renaissance Technologies LLC grew its stake in shares of Global Partners by 415.3% in the fourth quarter. Renaissance Technologies LLC now owns 68,025 shares of the energy company’s stock worth $1,136,000 after acquiring an additional 54,825 shares during the period. GSA Capital Partners LLP grew its stake in shares of Global Partners by 34.4% in the third quarter. GSA Capital Partners LLP now owns 65,276 shares of the energy company’s stock worth $1,136,000 after acquiring an additional 16,720 shares during the period. Finally, Geode Capital Management LLC bought a new stake in shares of Global Partners in the fourth quarter worth approximately $973,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.
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About Global Partners
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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