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

Global Partners LP (NYSE:GLP) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $19.00.

GLP has been the topic of several recent analyst reports. ValuEngine downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Mitsubishi UFJ Financial Group lifted their price target on Global Partners and gave the company an “underweight” rating in a research report on Friday, August 10th. Stifel Nicolaus reiterated a “hold” rating and set a $20.00 price target (up from $17.00) on shares of Global Partners in a research report on Friday, August 10th. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Wells Fargo & Co lifted their price target on Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, September 13th.

Global Partners stock traded down $0.20 during mid-day trading on Friday, hitting $16.87. 121,202 shares of the company’s stock traded hands, compared to its average volume of 74,846. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.28 and a quick ratio of 0.67. The company has a market capitalization of $580.30 million, a P/E ratio of 12.14 and a beta of 0.73. Global Partners has a one year low of $15.16 and a one year high of $21.05.

Global Partners (NYSE:GLP) last announced its earnings results on Thursday, November 8th. The energy company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.71). The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $2.73 billion. Global Partners had a net margin of 0.59% and a return on equity of 1.82%. On average, research analysts expect that Global Partners will post 0.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Friday, November 9th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 11.26%. The ex-dividend date of this dividend was Thursday, November 8th. Global Partners’s dividend payout ratio (DPR) is presently 136.69%.

Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of Global Partners during the 3rd quarter valued at $1,469,000. Renaissance Technologies LLC acquired a new position in shares of Global Partners in the 3rd quarter worth $1,749,000. GSA Capital Partners LLP grew its holdings in shares of Global Partners by 132.1% in the 3rd quarter. GSA Capital Partners LLP now owns 29,186 shares of the energy company’s stock worth $531,000 after acquiring an additional 16,610 shares during the last quarter. Advisory Research Inc. grew its holdings in shares of Global Partners by 9.0% in the 3rd quarter. Advisory Research Inc. now owns 303,824 shares of the energy company’s stock worth $5,530,000 after acquiring an additional 25,050 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in shares of Global Partners by 1.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,414,859 shares of the energy company’s stock worth $43,941,000 after acquiring an additional 35,600 shares during the last quarter. Institutional investors own 41.25% of the company’s stock.

About Global Partners

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.

Further Reading: Average Daily Trade Volume Explained

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