Global Partners (NYSE:GLP) Raised to Buy at Wall Street Zen

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

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Stifel Nicolaus lifted their target price on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a research note on Monday. Finally, Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.00.

Global Partners Price Performance

GLP opened at $48.05 on Friday. The stock has a fifty day moving average price of $45.86 and a 200 day moving average price of $46.25. The company has a current ratio of 1.14, a quick ratio of 0.70 and a debt-to-equity ratio of 2.74. Global Partners has a 1 year low of $39.58 and a 1 year high of $56.59. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 22.77 and a beta of 1.00.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.06). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $6.94 billion. Analysts forecast that Global Partners will post 2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GLP. Alps Advisors Inc. lifted its holdings in Global Partners by 5.1% in the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock worth $274,655,000 after purchasing an additional 275,906 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Global Partners by 37.0% during the second quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock valued at $17,610,000 after purchasing an additional 90,169 shares during the last quarter. ING Groep NV bought a new position in shares of Global Partners in the third quarter valued at approximately $1,296,000. NBW Capital LLC raised its position in shares of Global Partners by 1.5% in the second quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock valued at $4,208,000 after purchasing an additional 1,181 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Global Partners in the third quarter worth $518,000. 38.12% of the stock is owned by institutional investors.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.