Global Partners (NYSE:GLP) Upgraded at TheStreet

Global Partners (NYSE:GLP – Get Rating) was upgraded by research analysts at TheStreet from a “c+” rating to a “b” rating in a report issued on Monday, TheStreetRatingsTable reports.

Several other brokerages have also recently weighed in on GLP. Stifel Nicolaus upped their price target on shares of Global Partners from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, March 1st. StockNews.com raised shares of Global Partners from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Finally, Zacks Investment Research raised shares of Global Partners from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Global Partners presently has an average rating of “Buy” and an average price target of $25.00.

GLP opened at $28.30 on Monday. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.76 and a current ratio of 1.32. The stock has a market cap of $962.20 million, a price-to-earnings ratio of 12.36 and a beta of 1.19. The firm’s fifty day moving average is $27.13 and its 200 day moving average is $25.58. Global Partners has a fifty-two week low of $19.45 and a fifty-two week high of $28.91.

Global Partners (NYSE:GLP – Get Rating) last posted its earnings results on Friday, May 6th. The energy company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.87. Global Partners had a net margin of 0.63% and a return on equity of 24.40%. The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $3.69 billion. On average, equities research analysts predict that Global Partners will post 3.45 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Pallas Capital Advisors LLC increased its stake in shares of Global Partners by 70.5% in the third quarter. Pallas Capital Advisors LLC now owns 1,064,128 shares of the energy company’s stock worth $25,050,000 after acquiring an additional 440,142 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Global Partners by 692.9% during the first quarter. Goldman Sachs Group Inc. now owns 136,099 shares of the energy company’s stock worth $3,711,000 after buying an additional 118,935 shares in the last quarter. Welch & Forbes LLC purchased a new stake in Global Partners during the first quarter worth $1,020,000. Bank of Montreal Can purchased a new stake in Global Partners during the fourth quarter worth $614,000. Finally, Greenwich Investment Management Inc. purchased a new stake in Global Partners during the fourth quarter worth $590,000.

Global Partners Company Profile (Get Rating)

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states, Mid-Atlantic region, and New York.

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