Global Partners (NYSE:GLP) had its price objective raised by Wells Fargo & Co from $19.00 to $20.00 in a research note released on Thursday morning. Wells Fargo & Co currently has a market perform rating on the energy company’s stock.

GLP has been the topic of several other research reports. ValuEngine raised Global Partners from a sell rating to a hold rating in a report on Thursday, July 5th. Zacks Investment Research downgraded Global Partners from a buy rating to a hold rating in a research note on Tuesday, August 14th. Stifel Nicolaus reaffirmed a hold rating and set a $20.00 target price (up previously from $17.00) on shares of Global Partners in a research note on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group lifted their target price on Global Partners and gave the company an underweight rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.75.

Shares of NYSE GLP opened at $18.50 on Thursday. The company has a market capitalization of $625.52 million, a P/E ratio of 17.36 and a beta of 1.05. Global Partners has a 12-month low of $15.16 and a 12-month high of $21.05. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.89 and a current ratio of 1.44.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Thursday, August 9th. The energy company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.07. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $2.66 billion. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. research analysts forecast that Global Partners will post 0.62 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. raised its stake in Global Partners by 9.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,372,944 shares of the energy company’s stock valued at $74,558,000 after acquiring an additional 365,331 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Global Partners by 3.3% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,379,259 shares of the energy company’s stock valued at $40,557,000 after acquiring an additional 76,000 shares in the last quarter. Van ECK Associates Corp raised its stake in Global Partners by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 188,755 shares of the energy company’s stock valued at $3,218,000 after acquiring an additional 18,515 shares in the last quarter. UBS Group AG raised its stake in Global Partners by 44.5% during the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after acquiring an additional 50,527 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Global Partners by 3.3% during the 1st quarter. California Public Employees Retirement System now owns 149,199 shares of the energy company’s stock valued at $2,290,000 after acquiring an additional 4,699 shares in the last quarter. 41.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Global Partners (NYSE:GLP)

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