Downgrades Global Partners (NYSE:GLP) to Hold lowered shares of Global Partners (NYSE:GLPFree Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Separately, Stifel Nicolaus boosted their target price on shares of Global Partners from $40.00 to $44.00 and gave the company a buy rating in a research report on Wednesday, December 27th.

Check Out Our Latest Stock Analysis on GLP

Global Partners Stock Down 0.4 %

GLP opened at $47.46 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 2.02. The firm has a 50 day moving average price of $45.31 and a 200-day moving average price of $37.77. Global Partners has a twelve month low of $27.07 and a twelve month high of $48.97. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 12.62 and a beta of 1.36.

Global Partners (NYSE:GLPGet Free Report) last released its quarterly earnings data 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. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Equities research analysts forecast that Global Partners will post 3.9 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Thursday, February 8th were given a $0.70 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date was Wednesday, February 7th. Global Partners’s dividend payout ratio is presently 74.47%.

Hedge Funds Weigh In On Global Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in shares of Global Partners during the fourth quarter worth $2,553,000. Virtu Financial LLC bought a new position in shares of Global Partners during the fourth quarter worth $206,000. DRW Securities LLC purchased a new stake in Global Partners during the fourth quarter valued at $258,000. O Dell Group LLC purchased a new stake in Global Partners during the fourth quarter valued at $137,000. Finally, Blackstone Inc. raised its stake in Global Partners by 11.2% during the fourth quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after purchasing an additional 13,800 shares in the last quarter. Institutional investors own 32.01% of the company’s stock.

Global Partners Company Profile

(Get Free Report)

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 in the New England states, Mid-Atlantic region, and New York.

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