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

Global Partners (NYSE:GLP) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Global Partners presently has an average rating of “Hold” and a consensus target price of $46.00.

Global Partners Price Performance

Shares of NYSE GLP opened at $44.13 on Friday. The stock has a market cap of $1.50 billion, a PE ratio of 8.01 and a beta of 1.10. Global Partners has a fifty-two week low of $39.58 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.71 and a current ratio of 1.19. The stock has a fifty day moving average of $48.87 and a 200-day moving average of $47.97.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Friday, November 6th. The energy company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.35). Global Partners had a return on equity of 34.17% and a net margin of 0.93%. The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Equities research analysts anticipate that Global Partners will post 6.02 earnings per share for the current year.

Institutional Investors Weigh In On Global Partners

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Global Partners in the 2nd quarter worth approximately $4,789,000. Heartland Advisors Inc. bought a new position in shares of Global Partners in the 2nd quarter worth $2,952,000. Alps Advisors Inc. raised its position in shares of Global Partners by 3.4% during the 3rd quarter. Alps Advisors Inc. now owns 6,045,690 shares of the energy company’s stock valued at $279,915,000 after buying an additional 201,591 shares in the last quarter. Bard Associates Inc. purchased a new stake in shares of Global Partners during the 2nd quarter valued at $936,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Global Partners during the 2nd quarter valued at $379,000. Institutional investors own 38.12% of the company’s stock.

About Global Partners

Global Partners LP (NYSE: GLP) is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company’s activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.

Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.