Global Partners (NYSE:GLP) had its price objective lifted by analysts at Wells Fargo & Co from $19.00 to $20.00 in a report issued on Thursday, September 13th, Stock Target Advisor reports. The firm currently has a “market perform” rating on the energy company’s stock. Wells Fargo & Co’s price target indicates a potential upside of 10.31% from the company’s previous close.
Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Mitsubishi UFJ Financial Group raised their price objective on shares of Global Partners and gave the stock an “underweight” rating in a research report on Friday, August 10th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price objective (up from $17.00) on shares of Global Partners in a research report on Friday, August 10th. Finally, ValuEngine raised shares of Global Partners from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Global Partners currently has a consensus rating of “Hold” and a consensus price target of $19.75.
Shares of NYSE GLP traded up $0.04 during mid-day trading on Thursday, reaching $18.13. The company had a trading volume of 16,165 shares, compared to its average volume of 66,310. Global Partners has a 52-week low of $15.16 and a 52-week high of $21.05. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.44 and a quick ratio of 0.89. The company has a market capitalization of $618.72 million, a price-to-earnings ratio of 13.04 and a beta of 1.05.
Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, August 9th. The energy company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. Global Partners had a net margin of 0.94% and a return on equity of 8.83%. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $2.66 billion. As a group, sell-side analysts forecast that Global Partners will post 0.62 earnings per share for the current year.
Several large investors have recently modified their holdings of the company. OppenheimerFunds Inc. boosted its holdings in shares of Global Partners by 9.1% in the second quarter. OppenheimerFunds Inc. now owns 4,372,944 shares of the energy company’s stock valued at $74,558,000 after acquiring an additional 365,331 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Global Partners by 10.9% in the second quarter. Van ECK Associates Corp now owns 188,755 shares of the energy company’s stock valued at $3,218,000 after acquiring an additional 18,515 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Global Partners by 3.3% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,379,259 shares of the energy company’s stock valued at $40,557,000 after purchasing an additional 76,000 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Global Partners in the second quarter valued at about $181,000. Finally, UBS Group AG lifted its stake in shares of Global Partners by 44.5% in the first quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after purchasing an additional 50,527 shares during the period. 41.29% of the stock is currently owned by institutional investors and hedge funds.
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.
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