Global Partners LP (NYSE:GLP)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $20.00 price objective on the energy company’s stock. Stifel Nicolaus’ price target points to a potential upside of 16.28% from the company’s current price.
GLP has been the subject of a number of other research reports. BidaskClub downgraded Global Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded Global Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Janney Montgomery Scott initiated coverage on Global Partners in a report on Friday, June 23rd. They issued a “neutral” rating and a $18.00 price objective for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.40.
Global Partners (NYSE GLP) opened at 17.20 on Thursday. The firm’s market capitalization is $577.13 million. Global Partners has a one year low of $14.51 and a one year high of $21.95. The stock’s 50 day moving average price is $17.77 and its 200-day moving average price is $18.95.
Global Partners (NYSE:GLP) last released its quarterly earnings data on Wednesday, August 9th. The energy company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.15 billion. Global Partners had a negative return on equity of 1.83% and a negative net margin of 1.93%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) earnings per share. On average, equities research analysts anticipate that Global Partners will post $1.11 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of GLP. Winslow Evans & Crocker Inc. increased its position in Global Partners by 81.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock worth $1,052,000 after buying an additional 25,691 shares during the last quarter. Bank of Montreal Can purchased a new position in Global Partners during the second quarter worth about $451,000. Goldman Sachs Group Inc. increased its position in Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock worth $15,443,000 after buying an additional 70,756 shares during the last quarter. Morgan Stanley increased its position in Global Partners by 13.6% in the first quarter. Morgan Stanley now owns 2,859,113 shares of the energy company’s stock worth $55,754,000 after buying an additional 341,554 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in Global Partners by 5.5% in the first quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock worth $202,000 after buying an additional 535 shares during the last quarter. Institutional investors and hedge funds own 47.27% of the company’s stock.
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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