StockNews.com began coverage on shares of Global Partners (NYSE:GLP – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a buy rating on the energy company’s stock.
Global Partners Stock Down 2.3 %
Shares of Global Partners stock opened at $29.41 on Thursday. The business’s 50 day simple moving average is $34.67 and its 200 day simple moving average is $31.82. Global Partners has a 52-week low of $20.23 and a 52-week high of $39.24. The firm has a market cap of $995.82 million, a PE ratio of 2.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.62 and a current ratio of 1.20.
Global Partners (NYSE:GLP – Get Rating) last announced its earnings results on Monday, February 27th. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. Global Partners had a return on equity of 52.42% and a net margin of 1.92%. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts predict that Global Partners will post 2.95 earnings per share for the current fiscal year.
Global Partners Increases Dividend
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in Global Partners in the fourth quarter valued at approximately $28,000. Financial Management Professionals Inc. bought a new position in shares of Global Partners during the 4th quarter worth approximately $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Global Partners during the 4th quarter worth approximately $34,000. Dorsey Wright & Associates bought a new stake in Global Partners in the 4th quarter valued at $36,000. Finally, Credit Suisse AG acquired a new position in Global Partners in the 2nd quarter valued at $67,000. 28.40% of the stock is currently owned by institutional investors.
About Global Partners
Global Partners LP engages in purchasing, selling, storing, and the logistics of transporting petroleum and related products. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors.
- Get a free copy of the StockNews.com research report on Global Partners (GLP)
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