Global Partners (NYSE:GLP) Stock Rating Upgraded by Zacks Research

Global Partners (NYSE:GLP) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Global Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut shares of Global Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $46.00.

Global Partners Trading Up 3.2%

GLP stock opened at $42.79 on Monday. Global Partners has a one year low of $39.58 and a one year high of $54.29. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 7.52 and a beta of 1.10. The company has a fifty day moving average price of $48.52 and a two-hundred day moving average price of $47.94. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.09 and a quick ratio of 0.71.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Friday, November 6th. The energy company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.35). The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $7.41 billion. Global Partners had a net margin of 0.93% and a return on equity of 33.44%. Equities analysts anticipate that Global Partners will post 6.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. raised its stake in Global Partners by 3.4% during the third quarter. Alps Advisors Inc. now owns 6,045,690 shares of the energy company’s stock worth $279,915,000 after acquiring an additional 201,591 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Global Partners in the 2nd quarter valued at approximately $4,789,000. Heartland Advisors Inc. bought a new stake in shares of Global Partners during the 2nd quarter valued at approximately $2,952,000. Bard Associates Inc. bought a new stake in shares of Global Partners during the 2nd quarter valued at approximately $936,000. Finally, Infrastructure Capital Advisors LLC increased its position in Global Partners by 2.3% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 110,208 shares of the energy company’s stock worth $4,640,000 after purchasing an additional 2,527 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is an energy company that purchases, stores, transports and markets petroleum products and renewable fuels. Its products include gasoline, diesel and other distillates, residual fuel oil, and biofuels. The company operates an integrated network of fuel terminals, storage facilities and transportation assets, including pipelines and marine and truck transport capabilities. It also owns and operates gas stations and convenience stores, primarily in the northeastern United States.