Stifel Nicolaus reissued their buy rating on shares of Global Partners LP (NYSE:GLP) in a report released on Thursday morning. The brokerage currently has a $20.00 price target on the energy company’s stock.

Several other equities analysts have also issued reports on GLP. BidaskClub upgraded Global Partners from a strong sell rating to a sell rating in a research report on Friday, August 4th. Zacks Investment Research upgraded Global Partners from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a research report on Tuesday, July 25th. Finally, Janney Montgomery Scott began coverage on Global Partners in a research report on Friday, June 23rd. They set a neutral rating and a $18.00 target price for the company. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $18.40.

Global Partners (NYSE:GLP) remained flat at $17.35 during mid-day trading on Thursday. 8,032 shares of the stock were exchanged. The company’s market capitalization is $582.16 million. The firm has a 50 day moving average price of $17.78 and a 200-day moving average price of $18.91. Global Partners has a 12 month low of $14.51 and a 12 month high of $21.95.

Global Partners (NYSE:GLP) last posted its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.15 billion. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) EPS. Analysts anticipate that Global Partners will post $1.01 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Wednesday, August 9th will be given a $0.463 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.85 annualized dividend and a dividend yield of 10.67%. Global Partners’s dividend payout ratio is presently -39.11%.

Institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. raised its position in shares of Global Partners by 5.2% in the first quarter. OppenheimerFunds Inc. now owns 4,062,473 shares of the energy company’s stock valued at $79,218,000 after buying an additional 201,405 shares in the last quarter. Morgan Stanley raised its position in shares of Global Partners by 13.6% in the first quarter. Morgan Stanley now owns 2,859,113 shares of the energy company’s stock valued at $55,754,000 after buying an additional 341,554 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Global Partners by 3.0% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,820,223 shares of the energy company’s stock valued at $32,851,000 after buying an additional 53,700 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock valued at $15,443,000 after buying an additional 70,756 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its position in shares of Global Partners by 5.2% in the second quarter. HITE Hedge Asset Management LLC now owns 653,220 shares of the energy company’s stock valued at $11,791,000 after buying an additional 32,000 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Global Partners

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

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