Global Partners LP (GLP) Receives $19.33 Average PT from Analysts

Shares of Global Partners LP (NYSE:GLP) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.33.

Several equities analysts have recently weighed in on the stock. Barclays downgraded shares of Global Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, April 16th. ValuEngine downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th.

Several large investors have recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Global Partners by 4.3% in the fourth quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after buying an additional 550 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in Global Partners by 3.8% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 40,106 shares of the energy company’s stock worth $654,000 after purchasing an additional 1,450 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Global Partners by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,090 shares of the energy company’s stock worth $327,000 after purchasing an additional 2,018 shares during the last quarter. Tortoise Index Solutions LLC increased its position in Global Partners by 105.2% during the fourth quarter. Tortoise Index Solutions LLC now owns 9,527 shares of the energy company’s stock worth $155,000 after purchasing an additional 4,884 shares during the last quarter. Finally, Albert D Mason Inc. increased its position in Global Partners by 18.1% during the fourth quarter. Albert D Mason Inc. now owns 34,360 shares of the energy company’s stock worth $560,000 after purchasing an additional 5,255 shares during the last quarter. 40.20% of the stock is currently owned by hedge funds and other institutional investors.

GLP opened at $19.95 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.84 and a debt-to-equity ratio of 2.87. The firm has a market cap of $685.44 million, a price-to-earnings ratio of 11.53 and a beta of 1.00. Global Partners has a 52-week low of $13.63 and a 52-week high of $21.05.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Thursday, March 7th. The energy company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.35. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.14 billion. Global Partners had a net margin of 0.82% and a return on equity of 12.52%. On average, research analysts anticipate that Global Partners will post 0.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, May 10th will be paid a $0.51 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 10.23%. The ex-dividend date of this dividend is Thursday, May 9th. Global Partners’s dividend payout ratio (DPR) is currently 115.61%.

About Global Partners

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

Read More: What is intrinsic value?

Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter.