Global Partners (NYSE:GLP) Upgraded at Zacks Research

Global Partners (NYSE:GLP) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen lowered Global Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Global Partners Stock Down 2.2%

Shares of Global Partners stock opened at $39.91 on Tuesday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 19.09 and a beta of 0.95. The firm’s 50-day moving average is $43.14 and its two-hundred day moving average is $47.69. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.21 and a quick ratio of 0.70. Global Partners has a 1 year low of $39.58 and a 1 year high of $60.00.

Global Partners (NYSE:GLP) last posted its earnings results on Friday, November 7th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.43). The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.54%. As a group, research analysts expect that Global Partners will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Partners

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Global Partners by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company’s stock worth $18,685,000 after buying an additional 55,304 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Global Partners by 4.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after acquiring an additional 85,347 shares during the last quarter. Focus Partners Wealth boosted its holdings in Global Partners by 10.2% in the third quarter. Focus Partners Wealth now owns 24,299 shares of the energy company’s stock valued at $1,166,000 after acquiring an additional 2,252 shares during the last quarter. Creative Planning boosted its holdings in Global Partners by 6.9% in the third quarter. Creative Planning now owns 16,043 shares of the energy company’s stock valued at $770,000 after acquiring an additional 1,030 shares during the last quarter. Finally, South Street Advisors LLC purchased a new stake in Global Partners during the third quarter valued at about $276,000. 38.12% of the stock is owned by institutional investors and hedge funds.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.