Global Partners LP (GLP) Given Average Recommendation of “Hold” by Analysts

Shares of Global Partners LP (NYSE:GLP) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $19.00.

A number of research firms recently weighed in on GLP. Wells Fargo & Co boosted their target price on Global Partners from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, September 13th. ValuEngine raised Global Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Zacks Investment Research lowered Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 target price (up from $17.00) on shares of Global Partners in a report on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group boosted their target price on Global Partners and gave the stock an “underweight” rating in a report on Friday, August 10th.

A number of hedge funds and other institutional investors have recently modified their holdings of GLP. Wells Fargo & Company MN grew its holdings in Global Partners by 18.8% in the 1st quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock valued at $429,000 after buying an additional 4,414 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Global Partners by 6.3% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,303,259 shares of the energy company’s stock valued at $35,343,000 after buying an additional 136,649 shares in the last quarter. California Public Employees Retirement System grew its holdings in Global Partners by 3.3% in 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 buying an additional 4,699 shares in the last quarter. UBS Group AG grew its holdings in Global Partners by 44.5% in the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after buying an additional 50,527 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Global Partners in the 2nd quarter valued at $181,000. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GLP stock traded down $0.04 during trading on Friday, reaching $18.07. 52,900 shares of the company’s stock were exchanged, compared to its average volume of 65,424. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $618.72 million, a PE ratio of 13.13 and a beta of 1.05. Global Partners has a twelve month low of $15.16 and a twelve month high of $21.05.

Global Partners (NYSE:GLP) last posted its earnings results on Thursday, August 9th. The energy company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.07. The business had revenue of $3.13 billion for the quarter, compared to analyst estimates of $2.66 billion. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. As a group, sell-side analysts predict 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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Analyst Recommendations for Global Partners (NYSE:GLP)

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