Global Partners (NYSE:GLP) Stock Rating Upgraded by Zacks Research

Global Partners (NYSE:GLP) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

A number of other analysts have also commented on GLP. Wall Street Zen lowered Global Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings downgraded shares of Global Partners from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Global Partners presently has an average rating of “Buy” and an average target price of $46.00.

Global Partners Stock Up 3.2%

NYSE GLP opened at $42.79 on Monday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 7.77 and a beta of 1.10. Global Partners has a 52 week low of $39.58 and a 52 week high of $54.29. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.71 and a current ratio of 1.09. The stock has a fifty day moving average of $48.52 and a 200-day moving average of $47.94.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Friday, November 6th. The energy company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.35). The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $7.41 billion. Global Partners had a net margin of 0.93% and a return on equity of 33.44%. On average, equities research analysts forecast that Global Partners will post 6.02 EPS for the current year.

Institutional Trading of Global Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. lifted its stake in shares of Global Partners by 3.4% in the 3rd quarter. Alps Advisors Inc. now owns 6,045,690 shares of the energy company’s stock valued at $279,915,000 after purchasing an additional 201,591 shares during the period. BlackRock Inc. acquired a new stake in shares of Global Partners during the second quarter worth $4,789,000. Infrastructure Capital Advisors LLC grew its stake in shares of Global Partners by 2.3% during the first quarter. Infrastructure Capital Advisors LLC now owns 110,208 shares of the energy company’s stock worth $4,640,000 after purchasing an additional 2,527 shares during the period. Waverly Advisors LLC increased its holdings in Global Partners by 42.9% in the second quarter. Waverly Advisors LLC now owns 82,816 shares of the energy company’s stock valued at $3,858,000 after purchasing an additional 24,868 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new stake in Global Partners in the second quarter valued at about $2,952,000. Institutional investors own 38.12% of the company’s stock.

About Global Partners

Global Partners LP is an energy company that purchases, stores, transports and markets petroleum products and renewable fuels. Its products include gasoline, diesel and other distillates, residual fuel oil, and biofuels. The company operates an integrated network of fuel terminals, storage facilities and transportation assets, including pipelines and marine and truck transport capabilities. It also owns and operates gas stations and convenience stores, primarily in the northeastern United States.