Global Partners LP (NYSE:GLP) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.00.
A number of equities research analysts have issued reports on GLP shares. Zacks Investment Research upgraded Global Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday, August 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price target (up previously from $17.00) on shares of Global Partners in a research note on Friday, August 10th. ValuEngine upgraded Global Partners from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Wells Fargo & Co increased their price target on Global Partners from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, September 13th. Finally, Mitsubishi UFJ Financial Group increased their price target on Global Partners and gave the stock an “underweight” rating in a research note on Friday, August 10th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GLP. Janney Montgomery Scott LLC bought a new position in shares of Global Partners during the 2nd quarter valued at about $181,000. Wells Fargo & Company MN boosted its holdings in shares of Global Partners by 18.8% during the 1st quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock valued at $429,000 after purchasing an additional 4,414 shares during the last quarter. California Public Employees Retirement System boosted its holdings 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 valued at $2,290,000 after purchasing an additional 4,699 shares during the last quarter. UBS Group AG boosted its holdings in shares of Global Partners by 44.5% during the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after purchasing an additional 50,527 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings 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 valued at $2,613,000 after purchasing an additional 58,155 shares during the last quarter. 41.29% of the stock is owned by institutional investors and hedge funds.
GLP stock traded down $0.10 during trading on Monday, reaching $18.25. The company’s stock had a trading volume of 29,800 shares, compared to its average volume of 67,621. Global Partners has a 1 year low of $15.16 and a 1 year high of $21.05. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.89 and a current ratio of 1.44. The firm has a market capitalization of $623.82 million, a PE ratio of 13.13 and a beta of 1.06.
Global Partners (NYSE:GLP) last issued its quarterly earnings results on Thursday, August 9th. The energy company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $2.66 billion. sell-side analysts forecast that Global Partners will post 0.62 EPS 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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