StockNews.com lowered shares of Global Partners (NYSE:GLP – Free Report) from a buy rating to a hold rating in a report published on Tuesday.
Separately, Stifel Nicolaus increased their target price on shares of 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 Global Partners
Global Partners Price Performance
Global Partners (NYSE:GLP – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.45. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. On average, research analysts expect that Global Partners will post 3.9 EPS for the current year.
Hedge Funds Weigh In On Global Partners
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC bought a new position in Global Partners during the third quarter worth about $35,000. Signaturefd LLC bought a new position in shares of Global Partners in the fourth quarter valued at approximately $85,000. Tower Research Capital LLC TRC boosted its position in shares of Global Partners by 592.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,090 shares of the energy company’s stock valued at $88,000 after acquiring an additional 1,788 shares during the period. Acadian Asset Management LLC bought a new position in shares of Global Partners in the third quarter valued at approximately $138,000. Finally, Albert D Mason Inc. bought a new position in shares of Global Partners in the first quarter valued at approximately $203,000. Institutional investors own 38.12% of the company’s stock.
Global Partners Company Profile
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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