Global Partners LP (NYSE:GLP) shares were down 3.9% during trading on Wednesday . The stock traded as low as $15.17 and last traded at $15.28, with a volume of 111,393 shares. The stock had previously closed at $15.90.

Several research analysts have commented on GLP shares. Zacks Investment Research cut shares of Global Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. Barclays PLC reduced their price objective on shares of Global Partners from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Global Partners currently has an average rating of “Hold” and an average price target of $23.29.

The company’s 50 day moving average is $13.91 and its 200-day moving average is $13.62. The firm’s market capitalization is $505.80 million.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the firm earned $0.15 EPS. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. Analysts forecast that Global Partners LP will post ($0.54) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 8th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.85 annualized dividend and a yield of 12.07%.

An institutional investor recently raised its position in Global Partners stock. Morgan Stanley boosted its stake in shares of Global Partners LP (NYSE:GLP) by 44.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 806,868 shares of the company’s stock after buying an additional 249,586 shares during the period. Morgan Stanley owned 2.41% of Global Partners worth $14,177,000 at the end of the most recent reporting period.

Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane.

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