Global Partners LP (NYSE:GLP) Given Average Recommendation of “Hold” by Analysts

Shares of Global Partners LP (NYSE:GLP – Get Rating) have been given an average rating of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.50.

A number of research firms have commented on GLP. Stifel Nicolaus upped their price target on Global Partners from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, March 1st. StockNews.com upgraded Global Partners from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, Zacks Investment Research upgraded shares of Global Partners from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Wednesday.

NYSE:GLP opened at $25.96 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.66 and a debt-to-equity ratio of 3.49. The company has a fifty day moving average of $26.89 and a 200 day moving average of $25.37. Global Partners has a 52 week low of $19.45 and a 52 week high of $28.91.

Global Partners (NYSE:GLP – Get Rating) last released its quarterly earnings data on Monday, February 28th. The energy company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.25. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Global Partners had a net margin of 0.63% and a return on equity of 24.40%. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, sell-side analysts predict that Global Partners will post 3.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 9th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $2.38 annualized dividend and a yield of 9.17%. This is a positive change from Global Partners’s previous quarterly dividend of $0.59. Global Partners’s dividend payout ratio (DPR) is currently 103.93%.

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. bought a new position in Global Partners during the 3rd quarter valued at approximately $95,000. Goldman Sachs Group Inc. increased its holdings in shares of Global Partners by 398.3% during the third quarter. Goldman Sachs Group Inc. now owns 107,102 shares of the energy company’s stock valued at $2,268,000 after acquiring an additional 85,607 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Global Partners by 70.5% during the third quarter. Pallas Capital Advisors LLC now owns 1,064,128 shares of the energy company’s stock valued at $25,050,000 after acquiring an additional 440,142 shares in the last quarter. Royal Bank of Canada raised its position in shares of Global Partners by 2.1% in the 3rd quarter. Royal Bank of Canada now owns 198,416 shares of the energy company’s stock worth $4,202,000 after purchasing an additional 4,091 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Global Partners in the 3rd quarter worth about $291,000.

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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