Global Partners (NYSE:GLP) Stock Rating Upgraded by Wall Street Zen

Global Partners (NYSE:GLP) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Sunday.

A number of other equities research analysts have also weighed in on the company. Zacks Research lowered Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings raised Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Global Partners has a consensus rating of “Hold” and a consensus target price of $46.00.

Global Partners Stock Performance

Shares of NYSE:GLP opened at $51.39 on Friday. The firm’s 50 day simple moving average is $47.89 and its 200-day simple moving average is $47.58. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.71 and a current ratio of 1.19. Global Partners has a one year low of $39.58 and a one year high of $53.25. The firm has a market cap of $1.75 billion, a PE ratio of 10.47 and a beta of 1.01.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.62. Global Partners had a return on equity of 30.87% and a net margin of 0.91%.The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $7.51 billion. As a group, equities analysts predict that Global Partners will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Global Partners

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Global Partners in the second quarter worth approximately $4,789,000. Heartland Advisors Inc. bought a new stake in Global Partners during the 2nd quarter valued at $2,952,000. Alps Advisors Inc. raised its position in shares of Global Partners by 4.9% in the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after acquiring an additional 277,875 shares in the last quarter. Bard Associates Inc. bought a new position in shares of Global Partners in the 2nd quarter worth $936,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Global Partners by 4.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after acquiring an additional 85,347 shares in the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.

About Global Partners

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.