Global Partners LP (GLP) Stock Price Up 7.3%
Global Partners LP (NYSE:GLP)’s share price rose 7.3% on Monday . The company traded as high as $15.19 and last traded at $15.06, with a volume of 146,928 shares traded. The stock had previously closed at $14.03.
GLP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Global Partners from $37.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 19th. Zacks Investment Research downgraded shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. Finally, Barclays PLC initiated coverage on shares of Global Partners in a research note on Wednesday, April 13th. They set an “equal weight” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $24.00.
The stock has a market cap of $511.97 million and a PE ratio of 848.611. The stock has a 50 day moving average of $13.36 and a 200-day moving average of $13.73.
Global Partners (NYSE:GLP) last released its earnings results on Monday, August 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.06. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.18 billion. Global Partners’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, analysts expect that Global Partners LP will post ($0.55) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Monday, August 8th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 13.19%. The ex-dividend date of this dividend is Thursday, August 4th.
An institutional investor recently bought a new position in Global Partners stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Global Partners LP (NYSE:GLP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,346 shares of the company’s stock, valued at approximately $1,025,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.17% of Global Partners 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.