StockNews.com assumed coverage on shares of Global Partners (NYSE:GLP – Get Rating) in a report released on Thursday. The brokerage issued a buy rating on the energy company’s stock.
Global Partners Stock Performance
GLP stock opened at $29.41 on Thursday. The stock’s 50 day simple moving average is $34.67 and its 200 day simple moving average is $31.82. The stock has a market capitalization of $995.82 million, a PE ratio of 2.93 and a beta of 1.31. The company has a current ratio of 1.20, a quick ratio of 0.62 and a debt-to-equity ratio of 1.61. Global Partners has a 12-month low of $20.23 and a 12-month high of $39.24.
Global Partners (NYSE:GLP – Get Rating) last released its quarterly earnings results on Monday, February 27th. The energy company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Global Partners had a return on equity of 52.42% and a net margin of 1.92%. During the same period in the prior year, the firm earned $0.44 EPS. As a group, research analysts forecast that Global Partners will post 2.95 earnings per share for the current fiscal year.
Global Partners Increases Dividend
Institutional Investors Weigh In On Global Partners
Several hedge funds and other institutional investors have recently modified their holdings of GLP. Fifth Third Bancorp purchased a new stake in Global Partners in the 4th quarter worth $28,000. Financial Management Professionals Inc. purchased a new stake in Global Partners in the 4th quarter worth $32,000. Armstrong Advisory Group Inc. purchased a new stake in Global Partners in the 4th quarter worth $34,000. Dorsey Wright & Associates purchased a new stake in Global Partners in the 4th quarter worth $36,000. Finally, Geneos Wealth Management Inc. increased its stake in Global Partners by 15.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,300 shares of the energy company’s stock worth $80,000 after buying an additional 300 shares in the last quarter. 28.40% of the stock is currently owned by hedge funds and other institutional investors.
About Global Partners
Global Partners LP engages in purchasing, selling, storing, and the logistics of transporting petroleum and related products. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors.
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