Shares of Global Partners (NYSE:GLP) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.67.
Several equities analysts have issued reports on the stock. Stifel Nicolaus cut shares of Global Partners from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research note on Tuesday, March 13th. Barclays lowered their target price on shares of Global Partners from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Zacks Investment Research upgraded shares of Global Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Finally, ValuEngine cut shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd.
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A number of institutional investors and hedge funds have recently bought and sold shares of GLP. Acadian Asset Management LLC lifted its stake in Global Partners by 263.2% during the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after acquiring an additional 30,029 shares during the period. Wells Fargo & Company MN increased its position in shares of Global Partners by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,517 shares of the energy company’s stock valued at $393,000 after purchasing an additional 5,245 shares during the last quarter. Geode Capital Management LLC purchased a new stake in shares of Global Partners during the 4th quarter valued at about $973,000. Renaissance Technologies LLC increased its position in shares of Global Partners by 415.3% during the 4th quarter. Renaissance Technologies LLC now owns 68,025 shares of the energy company’s stock valued at $1,136,000 after purchasing an additional 54,825 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Global Partners by 12.2% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,166,610 shares of the energy company’s stock valued at $36,172,000 after purchasing an additional 235,595 shares during the last quarter. Institutional investors and hedge funds own 43.17% of the company’s stock.
Shares of Global Partners stock opened at $17.80 on Tuesday. The stock has a market capitalization of $593.22 million, a P/E ratio of 12.81 and a beta of 0.85. Global Partners has a 1 year low of $17.60 and a 1 year high of $17.80. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 2.94.
Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, May 9th. The energy company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $1.56. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Global Partners had a net margin of 1.00% and a return on equity of 8.27%. analysts expect that Global Partners will post 0.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Thursday, May 10th will be paid a dividend of $0.463 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.85 annualized dividend and a yield of 10.40%. This is a boost from Global Partners’s previous quarterly dividend of $0.46. Global Partners’s dividend payout ratio is currently 133.09%.
Global Partners Company Profile
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.