StockNews.com cut shares of Global Partners (NYSE:GLP – Free Report) from a buy rating to a hold rating in a report released on Tuesday morning.
Separately, Stifel Nicolaus increased their price objective on Global Partners from $40.00 to $44.00 and gave the stock a buy rating in a research report on Wednesday, December 27th.
Get Our Latest Stock Analysis on GLP
Global Partners Stock Up 1.5 %
Global Partners (NYSE:GLP – Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. On average, equities analysts anticipate that Global Partners will post 3.9 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC bought a new position in shares of Global Partners in the third quarter worth $35,000. Signaturefd LLC bought a new position in shares of Global Partners in the fourth quarter worth $85,000. Tower Research Capital LLC TRC increased 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 worth $88,000 after purchasing 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 worth $138,000. Finally, Albert D Mason Inc. bought a new position in shares of Global Partners in the first quarter worth $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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