StockNews.com cut shares of Global Partners (NYSE:GLP – Free Report) from a buy rating to a hold rating in a research note published on Tuesday morning.
Separately, Stifel Nicolaus increased their price objective on shares of Global Partners from $40.00 to $44.00 and gave the company a buy rating in a report on Wednesday, December 27th.
Check Out Our Latest Stock Report on Global Partners
Global Partners Stock Up 1.4 %
Global Partners (NYSE:GLP – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.45. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Research analysts predict that Global Partners will post 3.9 EPS for the current fiscal year.
Institutional Trading of Global Partners
Hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC increased its position in Global Partners by 24.4% in the third quarter. Exchange Traded Concepts LLC now owns 32,256 shares of the energy company’s stock worth $1,139,000 after purchasing an additional 6,336 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Global Partners by 1.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,874 shares of the energy company’s stock worth $1,479,000 after buying an additional 443 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Global Partners by 196.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 84,473 shares of the energy company’s stock valued at $2,984,000 after buying an additional 56,026 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Global Partners in the 3rd quarter valued at about $212,000. Finally, Crescent Grove Advisors LLC purchased a new position in Global Partners in the third quarter worth about $997,000. 38.12% of the stock is owned by hedge funds and other institutional investors.
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.
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