Global Partners (GLP) Upgraded at ValuEngine

Global Partners (NYSE:GLP) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price objective (up from $17.00) on shares of Global Partners in a research report on Friday, August 10th. Zacks Investment Research raised shares of Global Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Monday, August 13th. Wells Fargo & Co increased their price objective on shares of Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, September 13th. Finally, Mitsubishi UFJ Financial Group increased their price objective on shares of Global Partners and gave the company an “underweight” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.75.

Global Partners stock opened at $19.32 on Friday. The company has a market cap of $697.93 million, a price-to-earnings ratio of 13.90 and a beta of 0.76. Global Partners has a 52-week low of $15.16 and a 52-week high of $21.05. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.67.

Global Partners (NYSE:GLP) last released its earnings results on Thursday, November 8th. The energy company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.71). The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $2.73 billion. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. Equities analysts expect that Global Partners will post 0.62 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in GLP. Wells Fargo & Company MN increased its position in shares of Global Partners by 18.8% in the 1st quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock valued at $429,000 after purchasing an additional 4,414 shares during the last quarter. UBS Group AG grew its position in shares of Global Partners by 44.5% in the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after buying an additional 50,527 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Global Partners in the 2nd quarter valued at $181,000. Kayne Anderson Capital Advisors LP grew its position in shares of Global Partners by 3.3% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,379,259 shares of the energy company’s stock valued at $40,557,000 after buying an additional 76,000 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Global Partners by 10.9% in the 2nd quarter. Van ECK Associates Corp now owns 188,755 shares of the energy company’s stock valued at $3,218,000 after buying an additional 18,515 shares during the last quarter. 41.32% of the stock is currently owned by institutional investors.

Global Partners Company Profile

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.

Featured Article: Reverse Stock Split

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Partners (NYSE:GLP)

Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply