Barclays Reaffirms Equal Weight Rating for Global Partners (NYSE:GLP)

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Barclays reiterated their equal weight rating on shares of Global Partners (NYSE:GLP) in a research report report published on Monday, March 12th. They currently have a $18.00 price target on the energy company’s stock, down from their prior price target of $19.00.

Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Global Partners from a d+ rating to a c rating in a report on Thursday, November 30th. Zacks Investment Research lowered shares of Global Partners from a strong-buy rating to a hold rating in a report on Friday, January 12th. Finally, JPMorgan Chase restated a neutral rating on shares of Global Partners in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Global Partners has an average rating of Hold and a consensus price target of $18.50.

NYSE:GLP traded down $0.10 on Monday, hitting $15.55. The stock had a trading volume of 44,301 shares, compared to its average volume of 81,633. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.31 and a quick ratio of 0.79. The firm has a market capitalization of $533.73, a price-to-earnings ratio of 11.19 and a beta of 0.86. Global Partners has a 1-year low of $15.16 and a 1-year high of $20.86.

Global Partners (NYSE:GLP) last posted its earnings results on Thursday, March 8th. The energy company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. Global Partners had a net margin of 0.66% and a return on equity of 8.89%. equities analysts anticipate that Global Partners will post 0.5 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of GLP. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Global Partners by 12.2% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,166,610 shares of the energy company’s stock worth $36,172,000 after acquiring an additional 235,595 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Global Partners by 1,107.7% in the 4th quarter. Deutsche Bank AG now owns 159,410 shares of the energy company’s stock worth $2,662,000 after acquiring an additional 146,210 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Global Partners in the 4th quarter worth approximately $973,000. Renaissance Technologies LLC lifted its holdings in shares of Global Partners by 415.3% in the 4th quarter. Renaissance Technologies LLC now owns 68,025 shares of the energy company’s stock worth $1,136,000 after acquiring an additional 54,825 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Global Partners by 263.2% in the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock worth $693,000 after acquiring an additional 30,029 shares during the last quarter. Hedge funds and other institutional investors own 41.53% of the company’s stock.

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About Global Partners

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

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