Global Partners (NYSE:GLP) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages have also weighed in on GLP. Weiss Ratings restated a “buy (b-)” rating on shares of Global Partners in a research note on Wednesday, October 8th. Zacks Research cut shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Partners has an average rating of “Hold” and an average target price of $56.00.

Global Partners Price Performance

Shares of NYSE GLP opened at $42.24 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of 16.25 and a beta of 0.98. Global Partners has a fifty-two week low of $39.70 and a fifty-two week high of $60.00. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.70 and a current ratio of 1.18. The stock has a fifty day moving average of $47.85 and a 200-day moving average of $50.38.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Friday, November 7th. The energy company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.43). The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Global Partners had a return on equity of 17.95% and a net margin of 0.64%. Equities research analysts anticipate that Global Partners will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Mark Romaine sold 9,000 shares of Global Partners stock in a transaction on Monday, September 15th. The shares were sold at an average price of $51.44, for a total value of $462,960.00. Following the sale, the chief operating officer owned 130,531 shares in the company, valued at $6,714,514.64. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 41.50% of the stock is owned by insiders.

Institutional Trading of Global Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new position in shares of Global Partners during the third quarter valued at approximately $48,000. US Bancorp DE grew its position in Global Partners by 42.9% in the 1st quarter. US Bancorp DE now owns 2,037 shares of the energy company’s stock worth $109,000 after purchasing an additional 612 shares during the period. State of Wyoming raised its stake in Global Partners by 110.2% during the 3rd quarter. State of Wyoming now owns 2,304 shares of the energy company’s stock valued at $111,000 after buying an additional 1,208 shares during the last quarter. First Horizon Corp bought a new position in shares of Global Partners during the 3rd quarter valued at $120,000. Finally, Traub Capital Management LLC purchased a new position in shares of Global Partners in the 2nd quarter worth $192,000. Hedge funds and other 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.