GSA Capital Partners LLP cut its stake in shares of Global Partners LP (NYSE:GLP) by 69.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,807 shares of the energy company’s stock after selling 52,313 shares during the quarter. GSA Capital Partners LLP owned 0.07% of Global Partners worth $350,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Global Partners by 51.9% during the 1st quarter. Van ECK Associates Corp now owns 170,240 shares of the energy company’s stock worth $2,613,000 after acquiring an additional 58,155 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Global Partners by 3.3% during the 1st quarter. California Public Employees Retirement System now owns 149,199 shares of the energy company’s stock worth $2,290,000 after acquiring an additional 4,699 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of Global Partners by 6.3% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,303,259 shares of the energy company’s stock worth $35,343,000 after acquiring an additional 136,649 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Global Partners by 18.8% in the first quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock worth $429,000 after buying an additional 4,414 shares during the period. Finally, Penbrook Management LLC acquired a new stake in shares of Global Partners in the fourth quarter worth $451,000. 41.93% of the stock is owned by institutional investors and hedge funds.
GLP has been the subject of several recent analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Global Partners in a research report on Monday, March 12th. ValuEngine cut Global Partners from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Zacks Investment Research raised Global Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Stifel Nicolaus cut Global Partners from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.33.
Shares of Global Partners opened at $17.05 on Wednesday, Marketbeat.com reports. The firm has a market capitalization of $583.02 million, a PE ratio of 12.27 and a beta of 0.87. The company has a quick ratio of 0.82, a current ratio of 1.41 and a debt-to-equity ratio of 2.65. Global Partners LP has a 12 month low of $15.16 and a 12 month high of $18.50.
Global Partners (NYSE:GLP) last issued its earnings results on Wednesday, May 9th. The energy company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $1.56. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Global Partners had a return on equity of 8.03% and a net margin of 1.00%. analysts predict that Global Partners LP will post 0.51 earnings per share for the current fiscal year.
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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