Global Partners (NYSE:GLP) Rating Lowered to Buy at Wall Street Zen

Global Partners (NYSE:GLP) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also recently commented on GLP. Weiss Ratings raised Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Zacks Research lowered Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Global Partners Stock Down 0.1%

Shares of NYSE:GLP opened at $50.12 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12. The company has a market cap of $1.70 billion, a PE ratio of 10.21 and a beta of 1.01. Global Partners has a 52 week low of $39.58 and a 52 week high of $53.25. The firm has a 50 day simple moving average of $47.70 and a 200 day simple moving average of $47.34.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.62. Global Partners had a net margin of 0.91% and a return on equity of 31.60%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $7.51 billion. As a group, research analysts expect that Global Partners will post 4.71 earnings per share for the current year.

Institutional Investors Weigh In On Global Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLP. GSA Capital Partners LLP increased its stake in shares of Global Partners by 185.9% in the fourth quarter. GSA Capital Partners LLP now owns 30,850 shares of the energy company’s stock worth $1,291,000 after acquiring an additional 20,060 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Global Partners by 4.9% during the fourth quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after acquiring an additional 277,875 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Global Partners during the fourth quarter valued at $41,000. Earned Wealth Advisors LLC acquired a new stake in Global Partners during the fourth quarter valued at $219,000. Finally, First Trust Advisors LP grew its stake in Global Partners by 0.8% in the first quarter. First Trust Advisors LP now owns 55,496 shares of the energy company’s stock valued at $2,336,000 after purchasing an additional 463 shares in the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.