Wall Street Zen Upgrades Global Partners (NYSE:GLP) to “Strong-Buy”

Global Partners (NYSE:GLP) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other research analysts have also issued reports about the stock. Zacks Research raised shares of Global Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Stifel Nicolaus lifted their price target on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a report on Monday, March 2nd. Finally, Weiss Ratings raised shares of Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.00.

Global Partners Trading Down 4.4%

NYSE GLP opened at $47.44 on Friday. Global Partners has a one year low of $39.58 and a one year high of $56.51. The company has a 50-day simple moving average of $47.73 and a 200-day simple moving average of $46.14. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12. The firm has a market capitalization of $1.61 billion, a PE ratio of 13.18 and a beta of 1.01.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, beating the consensus estimate of $0.33 by $1.52. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $6.98 billion. On average, equities analysts forecast that Global Partners will post 4.71 earnings per share for the current year.

Insider Transactions at Global Partners

In other Global Partners news, COO Mark Romaine sold 7,500 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $47.39, for a total transaction of $355,425.00. Following the completion of the transaction, the chief operating officer directly owned 151,609 shares of the company’s stock, valued at $7,184,750.51. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 21,311 shares of company stock worth $1,014,249. Insiders own 41.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. McMillan Office Inc. acquired a new position in Global Partners during the 4th quarter valued at about $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Global Partners in the 4th quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners in the 3rd quarter worth approximately $48,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of Global Partners in the 4th quarter worth approximately $85,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.