Global Partners LP (GLP) Trading 1.9% Higher
Global Partners LP (NYSE:GLP)’s share price traded up 1.9% on Monday . The stock traded as high as $13.43 and last traded at $13.31, with a volume of 153,215 shares changing hands. The stock had previously closed at $13.06.
Several equities analysts have recently weighed in on the company. Barclays PLC restated a “hold” rating on shares of Global Partners in a report on Saturday, May 14th. Zacks Investment Research upgraded Global Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Global Partners from $37.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.00.
The stock has a 50 day moving average of $13.39 and a 200 day moving average of $14.10. The company has a market capitalization of $444.44 million and a PE ratio of 736.67.
Global Partners (NYSE:GLP) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.08. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $2.30 billion. The company’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Analysts anticipate that Global Partners LP will post ($0.53) EPS for the current fiscal year.
Several institutional investors recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of Global Partners by 44.8% in the fourth quarter. Morgan Stanley now owns 806,868 shares of the company’s stock valued at $14,177,000 after buying an additional 249,586 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Global Partners during the fourth quarter valued at $3,464,000. GSA Capital Partners LLP raised its position in shares of Global Partners by 92.0% in the fourth quarter. GSA Capital Partners LLP now owns 96,600 shares of the company’s stock valued at $1,697,000 after buying an additional 46,300 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Global Partners during the fourth quarter valued at $1,025,000.
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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