Global Partners (GLP) Given Consensus Rating of “Hold” by Brokerages

Shares of Global Partners (NYSE:GLP) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.67.

Several research firms recently commented on GLP. Zacks Investment Research downgraded shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 12th. ValuEngine cut shares of Global Partners from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Barclays restated an “equal weight” rating and issued a $18.00 price target (down from $19.00) on shares of Global Partners in a report on Monday, March 12th. 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 report on Tuesday, March 13th.

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Shares of NYSE:GLP opened at $16.90 on Friday. 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. The firm has a market cap of $576.22, a P/E ratio of 12.16 and a beta of 0.86.

Global Partners (NYSE:GLP) last issued its earnings results on Thursday, March 8th. The energy company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. Global Partners had a net margin of 0.66% and a return on equity of 8.89%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. research analysts anticipate that Global Partners will post 0.49 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of GLP. Kayne Anderson Capital Advisors LP raised its position in Global Partners by 12.2% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,166,610 shares of the energy company’s stock worth $36,172,000 after buying an additional 235,595 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Global Partners by 1,107.7% during the 4th quarter. Deutsche Bank AG now owns 159,410 shares of the energy company’s stock valued at $2,662,000 after purchasing an additional 146,210 shares in the last quarter. Geode Capital Management LLC purchased a new position in shares of Global Partners during the 4th quarter valued at approximately $973,000. Renaissance Technologies LLC increased its holdings in shares of Global Partners by 415.3% during the 4th quarter. Renaissance Technologies LLC now owns 68,025 shares of the energy company’s stock valued at $1,136,000 after purchasing an additional 54,825 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Global Partners by 263.2% during the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after purchasing an additional 30,029 shares in the last quarter. 41.53% of the stock is owned by institutional investors.

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Global Partners Company Profile

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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