Global Partners (NYSE:GLP) Upgraded at Zacks Research

Global Partners (NYSE:GLP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Several other equities analysts have also issued reports on GLP. Weiss Ratings lowered Global Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Wall Street Zen lowered shares of Global Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $46.00.

Global Partners Stock Up 3.2%

Shares of Global Partners stock opened at $42.79 on Monday. Global Partners has a 12 month low of $39.58 and a 12 month high of $54.29. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 2.29. The stock has a market cap of $1.45 billion, a PE ratio of 7.52 and a beta of 1.10. The business has a fifty day simple moving average of $48.52 and a 200 day simple moving average of $47.94.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, November 6th. The energy company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.35). The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $7.41 billion. Global Partners had a net margin of 0.93% and a return on equity of 33.44%. Research analysts predict that Global Partners will post 6.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLP. Alps Advisors Inc. raised its holdings in shares of Global Partners by 3.4% in the 3rd quarter. Alps Advisors Inc. now owns 6,045,690 shares of the energy company’s stock valued at $279,915,000 after purchasing an additional 201,591 shares during the period. BlackRock Inc. bought a new position in Global Partners during the second quarter worth about $4,789,000. Infrastructure Capital Advisors LLC increased its position in Global Partners by 2.3% during the first quarter. Infrastructure Capital Advisors LLC now owns 110,208 shares of the energy company’s stock worth $4,640,000 after buying an additional 2,527 shares during the last quarter. Waverly Advisors LLC raised its stake in Global Partners by 42.9% in the second quarter. Waverly Advisors LLC now owns 82,816 shares of the energy company’s stock valued at $3,858,000 after buying an additional 24,868 shares during the period. Finally, Heartland Advisors Inc. acquired a new stake in shares of Global Partners in the second quarter valued at approximately $2,952,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is an energy company that purchases, stores, transports and markets petroleum products and renewable fuels. Its products include gasoline, diesel and other distillates, residual fuel oil, and biofuels. The company operates an integrated network of fuel terminals, storage facilities and transportation assets, including pipelines and marine and truck transport capabilities. It also owns and operates gas stations and convenience stores, primarily in the northeastern United States.