Global Partners LP (GLP) Receives Average Rating of “Hold” from Brokerages

Global Partners LP (NYSE:GLP) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

GLP has been the topic of several recent research reports. ValuEngine upgraded Global Partners from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Zacks Investment Research lowered Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th.

In other news, Director David K. Mckown sold 2,715 shares of Global Partners stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total value of $45,367.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 41.50% of the company’s stock.



Several institutional investors have recently bought and sold shares of the company. Barclays PLC bought a new position in Global Partners during the fourth quarter valued at about $116,000. Tortoise Index Solutions LLC increased its stake 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 valued at $155,000 after acquiring an additional 4,884 shares during the period. Commonwealth Equity Services LLC increased its stake 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 valued at $327,000 after acquiring an additional 2,018 shares during the period. Raymond James & Associates increased its stake in Global Partners by 4.3% during the fourth quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock valued at $217,000 after acquiring an additional 550 shares during the period. Finally, Anchor Capital Advisors LLC bought a new position in Global Partners during the fourth quarter valued at about $928,000. Institutional investors and hedge funds own 41.60% of the company’s stock.

NYSE GLP traded up $0.14 during trading on Thursday, hitting $19.11. 25,600 shares of the company traded hands, compared to its average volume of 64,209. Global Partners has a 12 month low of $13.63 and a 12 month high of $21.05. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.28 and a quick ratio of 0.67. The firm has a market cap of $643.96 million, a P/E ratio of 13.75 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Friday, February 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 7th. This is a positive change from Global Partners’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.47%. Global Partners’s payout ratio is presently 143.88%.

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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