StockNews.com Lowers Global Partners (NYSE:GLP) to Hold

Global Partners (NYSE:GLP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, Stifel Nicolaus raised their target price on Global Partners from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th.

Global Partners Stock Performance

GLP traded up $0.65 during midday trading on Tuesday, reaching $46.89. The company’s stock had a trading volume of 42,799 shares, compared to its average volume of 140,399. The stock has a market cap of $1.59 billion, a P/E ratio of 12.47 and a beta of 1.35. The company has a fifty day simple moving average of $46.29 and a 200 day simple moving average of $41.01. 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.

Global Partners (NYSE:GLP) last announced 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 company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. Research analysts expect that Global Partners will post 3.9 earnings per share for the current year.

Institutional Trading of Global Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Global Partners by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company’s stock valued at $13,807,000 after purchasing an additional 16,503 shares in the last quarter. Fractal Investments LLC raised its holdings in shares of Global Partners by 46.5% in the 4th quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock worth $8,260,000 after purchasing an additional 62,000 shares during the period. Blackstone Inc. raised its holdings in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after acquiring an additional 13,800 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of 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 valued at $5,038,000 after purchasing an additional 319 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Global Partners by 0.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after acquiring an additional 342 shares in the last quarter. 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.