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 lifted their price target on Global Partners from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th.
Check Out Our Latest Report on GLP
Global Partners Stock Down 0.7 %
Global Partners (NYSE:GLP – Get Free Report) last announced its earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.45. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.39 billion. On average, research analysts expect that Global Partners will post 3.9 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Global Partners
Several institutional investors and hedge funds have recently modified their holdings of GLP. Raymond James Financial Services Advisors Inc. raised its holdings in Global Partners by 0.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock worth $5,038,000 after purchasing an additional 319 shares during the period. Sanders Morris Harris LLC purchased a new stake in Global Partners during the 1st quarter worth approximately $732,000. Leo Wealth LLC purchased a new stake in Global Partners during the 4th quarter worth approximately $423,000. Virtu Financial LLC purchased a new stake in Global Partners during the 4th quarter worth approximately $206,000. Finally, Blackstone Inc. increased its stake in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after buying an additional 13,800 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.
About Global Partners
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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