Wall Street Zen Upgrades Global Partners (NYSE:GLP) to “Buy”

Global Partners (NYSE:GLP) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Global Partners has an average rating of “Hold” and an average target price of $46.00.

Global Partners Stock Performance

NYSE:GLP opened at $48.05 on Friday. The stock has a 50-day moving average price of $45.86 and a 200 day moving average price of $46.19. The stock has a market capitalization of $1.63 billion, a P/E ratio of 22.77 and a beta of 1.00. Global Partners has a 12-month low of $39.58 and a 12-month high of $56.59. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 2.74.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Equities research analysts forecast that Global Partners will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Partners

Hedge funds have recently bought and sold shares of the business. Garton & Associates Financial Advisors LLC purchased a new stake in Global Partners in the fourth quarter worth $29,000. Susquehanna Portfolio Strategies LLC lifted its position in shares of Global Partners by 14.6% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 4,898 shares of the energy company’s stock worth $205,000 after purchasing an additional 625 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its stake in shares of Global Partners by 8.8% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 107,681 shares of the energy company’s stock valued at $4,506,000 after purchasing an additional 8,694 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Global Partners by 63.1% during the fourth quarter. Osaic Holdings Inc. now owns 9,788 shares of the energy company’s stock valued at $410,000 after purchasing an additional 3,788 shares during the period. Finally, Mariner LLC bought a new position in shares of Global Partners in the fourth quarter worth about $351,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.