Raymond James & Associates Buys 807 Shares of Global Partners LP (NYSE:GLP)

Raymond James & Associates grew its holdings in Global Partners LP (NYSE:GLP) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,909 shares of the energy company’s stock after acquiring an additional 807 shares during the quarter. Raymond James & Associates’ holdings in Global Partners were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Global Partners by 4.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company’s stock valued at $13,807,000 after purchasing an additional 16,503 shares in the last quarter. Fractal Investments LLC increased its holdings in Global Partners by 1.8% in the third quarter. Fractal Investments LLC now owns 133,234 shares of the energy company’s stock valued at $4,706,000 after buying an additional 2,346 shares in the last quarter. Blackstone Inc. boosted its stake in shares of Global Partners by 15.1% during the 3rd quarter. Blackstone Inc. now owns 123,375 shares of the energy company’s stock worth $4,358,000 after acquiring an additional 16,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Global Partners by 196.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 84,473 shares of the energy company’s stock valued at $2,984,000 after acquiring an additional 56,026 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Global Partners by 1.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,874 shares of the energy company’s stock valued at $1,479,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GLP shares. StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target 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.

Global Partners Stock Down 0.7 %

GLP opened at $46.64 on Thursday. The company has a market cap of $1.58 billion, a PE ratio of 12.40 and a beta of 1.35. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $49.50. The company has a 50-day moving average price of $46.28 and a 200 day moving average price of $41.05. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 2.02.

Global Partners (NYSE:GLP) last released its earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.39 billion. Sell-side analysts expect that Global Partners LP will post 3.9 earnings per share for the current fiscal year.

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.