Global Partners (NYSE:GLP) Downgraded to “Hold” at StockNews.com

Global Partners (NYSE:GLP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Stifel Nicolaus upped their price objective on Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 27th.

Global Partners Stock Performance

Shares of Global Partners stock opened at $46.64 on Tuesday. The stock’s fifty day moving average is $46.28 and its two-hundred day moving average is $41.05. The company has a market capitalization of $1.58 billion, a PE ratio of 12.40 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 2.02. Global Partners has a 52 week low of $27.07 and a 52 week high of $49.50.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $0.96 by $0.45. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.39 billion. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. As a group, analysts expect that Global Partners will post 3.9 earnings per share for the current year.

Hedge Funds Weigh In On Global Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Global Partners by 34.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock worth $4,790,000 after buying an additional 28,735 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Global Partners by 22.6% during the 3rd quarter. HighTower Advisors LLC now owns 15,103 shares of the energy company’s stock worth $534,000 after buying an additional 2,784 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Global Partners by 12.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 36,316 shares of the energy company’s stock worth $1,537,000 after buying an additional 4,060 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Global Partners by 42.8% during the 3rd quarter. D.A. Davidson & CO. now owns 18,350 shares of the energy company’s stock worth $648,000 after buying an additional 5,500 shares in the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of Global Partners during the 3rd quarter worth $997,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

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. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.