Global Partners (NYSE:GLP – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Separately, Stifel Nicolaus boosted their price objective on shares of Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 27th.
Check Out Our Latest Research Report on Global Partners
Global Partners Stock Up 1.4 %
Global Partners (NYSE:GLP – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. On average, equities analysts forecast that Global Partners will post 3.9 EPS for the current year.
Institutional Investors Weigh In On Global Partners
Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its position in Global Partners by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock valued at $5,038,000 after purchasing an additional 319 shares during the period. Apollon Wealth Management LLC grew its position in Global Partners by 3.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock valued at $458,000 after purchasing an additional 325 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Global Partners by 0.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock valued at $1,786,000 after acquiring an additional 342 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Global Partners by 5.3% during the 4th quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock valued at $673,000 after acquiring an additional 807 shares during the last quarter. Finally, Manchester Capital Management LLC purchased a new stake in shares of Global Partners during the 3rd quarter valued at about $35,000. 38.12% of the stock is currently owned by institutional investors.
Global Partners Company Profile
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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