Global Partners (NYSE:GLP) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Global Partners (NYSE:GLP) from a buy rating to a hold rating in a report released on Tuesday morning.

Separately, Stifel Nicolaus upped their price target on shares of Global Partners from $40.00 to $44.00 and gave the company a buy rating in a research report on Wednesday, December 27th.

Global Partners Stock Up 0.1 %

Shares of NYSE:GLP opened at $47.40 on Tuesday. The company has a market capitalization of $1.60 billion, a PE ratio of 12.61 and a beta of 1.35. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02. Global Partners has a twelve month low of $27.07 and a twelve month high of $49.50. The firm has a 50 day simple moving average of $46.27 and a 200-day simple moving average of $41.22.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.45. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. On average, equities analysts predict that Global Partners will post 3.53 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, May 9th will be given a $0.71 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.84 annualized dividend and a yield of 5.99%. Global Partners’s dividend payout ratio is 74.47%.

Hedge Funds Weigh In On Global Partners

A number of large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Global Partners by 4.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company’s stock worth $13,807,000 after buying an additional 16,503 shares during the last quarter. Fractal Investments LLC raised its position in Global Partners by 46.5% during the 4th quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock worth $8,260,000 after buying an additional 62,000 shares during the last quarter. Blackstone Inc. raised its position in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after buying an additional 13,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Global Partners by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock worth $5,038,000 after buying an additional 319 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Global Partners by 0.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after buying an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

About Global Partners

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. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.