According to Zacks, “Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. Global Partners owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. Global Partners is one of the largest wholesale distributors of distillates such as home heating oil, diesel and kerosene, gasoline, and residual oil and bunker fuel to wholesalers, retailers and commercial customers in New England. “
Separately, Barclays PLC upped their price objective on Global Partners from $14.00 to $16.00 and gave the stock an equal weight rating in a report on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock currently has an average rating of Hold and an average target price of $20.33.
Global Partners (NYSE:GLP) traded up 0.0825% during midday trading on Monday, reaching $16.0132. The company had a trading volume of 10,064 shares. The stock’s market capitalization is $536.75 million. Global Partners has a one year low of $12.28 and a one year high of $35.00. The company has a 50-day moving average price of $15.54 and a 200-day moving average price of $14.04.
Global Partners (NYSE:GLP) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.04. The firm earned $2.10 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm earned $0.15 EPS. The company’s quarterly revenue was down 19.9% on a year-over-year basis. On average, equities analysts expect that Global Partners will post ($0.55) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its stake in Global Partners by 3.1% in the second quarter. Global X Management Co. LLC now owns 8,338 shares of the company’s stock worth $114,000 after buying an additional 254 shares during the period. Youngs Advisory Group Inc. raised its position in Global Partners by 11.4% in the second quarter. Youngs Advisory Group Inc. now owns 13,335 shares of the company’s stock worth $183,000 after buying an additional 1,363 shares during the last quarter. Creative Planning raised its position in Global Partners by 110.5% in the second quarter. Creative Planning now owns 15,000 shares of the company’s stock worth $206,000 after buying an additional 7,875 shares during the last quarter. Texas Yale Capital Corp. acquired a new position in Global Partners during the second quarter worth approximately $235,000. Finally, Winslow Evans & Crocker Inc. raised its position in Global Partners by 9.7% in the second quarter. Winslow Evans & Crocker Inc. now owns 20,528 shares of the company’s stock worth $281,000 after buying an additional 1,822 shares during the last quarter.
Global Partners Company Profile
Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane.
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