Zacks Investment Research cut shares of Global Partners LP (NYSE:GLP) from a hold rating to a sell rating in a research report released on Friday.

According to Zacks, “Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. Global Partners owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. Global Partners is one of the largest wholesale distributors of distillates such as home heating oil, diesel and kerosene, gasoline, and residual oil and bunker fuel to wholesalers, retailers and commercial customers in New England. “

A number of other research analysts also recently weighed in on the company. BidaskClub downgraded Global Partners from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Stifel Nicolaus restated a buy rating and issued a $20.00 price target on shares of Global Partners in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Global Partners currently has a consensus rating of Hold and a consensus target price of $19.00.

Global Partners (NYSE GLP) opened at $17.45 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $593.23, a PE ratio of 37.94 and a beta of 1.11. Global Partners has a fifty-two week low of $15.20 and a fifty-two week high of $21.95.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.19. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. Global Partners had a positive return on equity of 3.95% and a negative net margin of 0.28%. Global Partners’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned ($3.54) earnings per share. analysts anticipate that Global Partners will post 1.11 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, November 9th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.85 dividend on an annualized basis and a yield of 10.60%. Global Partners’s dividend payout ratio is -246.67%.

Hedge funds have recently bought and sold shares of the business. Virtu KCG Holdings LLC bought a new position in Global Partners in the second quarter valued at approximately $187,000. JPMorgan Chase & Co. grew its stake in Global Partners by 448.7% in the second quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock valued at $188,000 after purchasing an additional 8,534 shares in the last quarter. Acadian Asset Management LLC bought a new position in Global Partners in the second quarter valued at approximately $199,000. Cutler Capital Management LLC bought a new position in Global Partners in the second quarter valued at approximately $254,000. Finally, Commonwealth Equity Services Inc grew its stake in Global Partners by 28.9% in the third quarter. Commonwealth Equity Services Inc now owns 16,171 shares of the energy company’s stock valued at $281,000 after purchasing an additional 3,624 shares in the last quarter. Hedge funds and other institutional investors own 39.80% of the company’s stock.

Global Partners Company Profile

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

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