Global Partners LP (GLP) Receives $19.00 Consensus Price Target from Analysts

Shares of Global Partners LP (NYSE:GLP) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.67.

GLP has been the topic of a number of research reports. Zacks Investment Research upgraded Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Tuesday, October 24th. TheStreet upgraded Global Partners from a “d+” rating to a “c” rating in a report on Thursday, November 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Global Partners in a report on Tuesday, November 21st.

Shares of Global Partners (NYSE:GLP) traded down $0.10 during trading on Wednesday, hitting $17.95. The stock had a trading volume of 27,550 shares, compared to its average volume of 74,726. The company has a market capitalization of $610.22, a price-to-earnings ratio of -23.62 and a beta of 1.09. Global Partners has a 12 month low of $15.80 and a 12 month high of $21.95. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 2.95.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.29 billion. Global Partners had a positive return on equity of 3.95% and a negative net margin of 0.28%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.54) earnings per share. analysts expect that Global Partners will post 1.34 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of GLP. Goldman Sachs Group Inc. increased its position in shares of Global Partners by 20.2% in the second quarter. Goldman Sachs Group Inc. now owns 951,845 shares of the energy company’s stock valued at $17,181,000 after acquiring an additional 159,895 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Global Partners by 6.1% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,931,015 shares of the energy company’s stock valued at $33,589,000 after acquiring an additional 110,792 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Global Partners by 267.8% in the second quarter. GSA Capital Partners LLP now owns 48,556 shares of the energy company’s stock valued at $876,000 after acquiring an additional 35,356 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in shares of Global Partners by 2.8% in the third quarter. HITE Hedge Asset Management LLC now owns 671,242 shares of the energy company’s stock valued at $11,680,000 after acquiring an additional 18,022 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Global Partners in the second quarter valued at about $187,000. Institutional investors own 39.92% of the company’s stock.

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About Global Partners

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

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