Global Partners LP (GLP) Receives Average Rating of “Hold” from Analysts

Global Partners LP (NYSE:GLP) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $18.67.

GLP has been the subject of several research reports. Zacks Investment Research upgraded Global Partners from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, October 24th. TheStreet upgraded Global Partners from a “d+” rating to a “c” rating in a research report on Thursday, November 30th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research report on Tuesday, November 21st.

Shares of Global Partners (NYSE:GLP) opened at $17.60 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 2.95. Global Partners has a 1 year low of $15.80 and a 1 year high of $21.65. The firm has a market capitalization of $598.33, a price-to-earnings ratio of -23.47 and a beta of 0.86.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.19. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. Global Partners had a positive return on equity of 3.95% and a negative net margin of 0.28%. Global Partners’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned ($3.54) EPS. analysts predict that Global Partners will post 1.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 9th will be given a $0.4625 dividend. The ex-dividend date is Thursday, February 8th. This represents a $1.85 annualized dividend and a yield of 10.51%. Global Partners’s dividend payout ratio is presently -246.67%.

A number of institutional investors have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP raised its position in Global Partners by 6.1% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,931,015 shares of the energy company’s stock valued at $33,589,000 after purchasing an additional 110,792 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Global Partners by 20.2% in the second quarter. Goldman Sachs Group Inc. now owns 951,845 shares of the energy company’s stock valued at $17,181,000 after buying an additional 159,895 shares during the period. HITE Hedge Asset Management LLC increased its stake in shares of Global Partners by 2.8% in the third quarter. HITE Hedge Asset Management LLC now owns 671,242 shares of the energy company’s stock valued at $11,680,000 after buying an additional 18,022 shares during the period. California Public Employees Retirement System increased its stake in shares of Global Partners by 3.9% in the second quarter. California Public Employees Retirement System now owns 146,900 shares of the energy company’s stock valued at $2,652,000 after buying an additional 5,500 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of Global Partners by 34.4% in the third quarter. GSA Capital Partners LLP now owns 65,276 shares of the energy company’s stock valued at $1,136,000 after buying an additional 16,720 shares during the period. Hedge funds and other institutional investors own 39.98% of the company’s stock.

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Global Partners Company Profile

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.

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