Global Partners (NYSE:GLP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Global Partners (NYSE:GLP) from a buy rating to a hold rating in a report issued on Tuesday morning.

Separately, Stifel Nicolaus lifted their price objective on shares of Global Partners from $40.00 to $44.00 and gave the stock a buy rating in a report on Wednesday, December 27th.

Global Partners Stock Up 0.1 %

GLP stock opened at $47.40 on Tuesday. Global Partners has a twelve month low of $27.07 and a twelve month high of $49.50. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $1.60 billion, a P/E ratio of 12.61 and a beta of 1.35. The firm has a 50 day simple moving average of $46.27 and a 200-day simple moving average of $41.22.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.45. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. On average, equities research analysts predict that Global Partners will post 3.53 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Wednesday, May 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s payout ratio is currently 74.47%.

Hedge Funds Weigh In On Global Partners

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new stake in Global Partners in the third quarter valued at $35,000. Signaturefd LLC acquired a new stake in shares of Global Partners in the 4th quarter worth about $85,000. Tower Research Capital LLC TRC increased its holdings in shares of Global Partners by 592.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,090 shares of the energy company’s stock worth $88,000 after acquiring an additional 1,788 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Global Partners in the 3rd quarter worth about $138,000. Finally, Albert D Mason Inc. acquired a new stake in shares of Global Partners in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.