Global Partners LP (NYSE:GLP) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.40.
Several research firms have recently issued reports on GLP. Zacks Investment Research raised shares of Global Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, October 17th. BidaskClub lowered shares of Global Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of Global Partners in a research note on Thursday, August 10th.
Global Partners (NYSE GLP) opened at 17.55 on Thursday. The stock’s market capitalization is $588.87 million. The stock has a 50 day moving average price of $17.45 and a 200 day moving average price of $17.96. Global Partners has a 12 month low of $14.85 and a 12 month high of $21.95.
Global Partners (NYSE:GLP) last posted its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Global Partners had a negative net margin of 1.83% and a positive return on equity of 0.21%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts predict that Global Partners will post $1.01 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC lifted its stake in Global Partners by 5.5% in the 1st quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock valued at $202,000 after buying an additional 535 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in Global Partners in the 2nd quarter valued at about $187,000. JPMorgan Chase & Co. lifted its stake in Global Partners by 448.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock valued at $188,000 after buying an additional 8,534 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Global Partners in the 2nd quarter valued at about $199,000. Finally, Cutler Capital Management LLC purchased a new position in Global Partners in the 2nd quarter valued at about $254,000. 39.85% of the stock is currently owned by hedge funds and other institutional investors.
About Global Partners
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.