Shares of Global Partners LP (NYSE:GLP) have received a consensus recommendation of “Hold” from the four analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.00.
Several equities research analysts have weighed in on GLP shares. Zacks Investment Research cut shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine cut shares of Global Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Shares of Global Partners stock traded down $0.17 during trading on Thursday, reaching $18.95. The company’s stock had a trading volume of 96,569 shares, compared to its average volume of 78,866. Global Partners has a 52-week low of $13.63 and a 52-week high of $21.62. The company has a market cap of $649.57 million, a price-to-earnings ratio of 10.95 and a beta of 0.87. The firm’s 50-day moving average is $19.99 and its two-hundred day moving average is $19.65. The company has a quick ratio of 0.70, a current ratio of 1.29 and a debt-to-equity ratio of 3.53.
Global Partners (NYSE:GLP) last announced its quarterly earnings results on Thursday, August 8th. The energy company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.28. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Global Partners had a net margin of 0.45% and a return on equity of 14.38%. On average, equities research analysts anticipate that Global Partners will post 0.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were issued a $0.515 dividend. The ex-dividend date was Thursday, August 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 10.87%. Global Partners’s dividend payout ratio is 119.08%.
A number of hedge funds and other institutional investors have recently modified their holdings of GLP. Marshall Wace North America L.P. bought a new position in Global Partners in the 1st quarter worth $99,000. Barclays PLC bought a new position in shares of Global Partners in the 4th quarter worth about $116,000. Delta Investment Management LLC bought a new position in shares of Global Partners in the 2nd quarter worth about $205,000. HITE Hedge Asset Management LLC bought a new position in shares of Global Partners in the 1st quarter worth about $215,000. Finally, Raymond James & Associates increased its stake in shares of Global Partners by 4.3% in the 4th quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds own 40.08% 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 in the New England states and New York.
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