Global Partners LP (GLP) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. raised its stake in shares of Global Partners LP (NYSE:GLP) by 20.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 951,845 shares of the energy company’s stock after buying an additional 159,895 shares during the period. Goldman Sachs Group Inc. owned approximately 2.80% of Global Partners worth $17,181,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC acquired a new position in Global Partners during the 2nd quarter valued at about $187,000. JPMorgan Chase & Co. increased its stake in Global Partners by 448.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock valued at $188,000 after buying an additional 8,534 shares during the period. Acadian Asset Management LLC acquired a new position in Global Partners during the 2nd quarter valued at about $199,000. Global X Management Co. LLC increased its stake in Global Partners by 5.5% during the 1st quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock valued at $202,000 after buying an additional 535 shares during the period. Finally, Cutler Capital Management LLC acquired a new position in Global Partners during the 2nd quarter valued at about $254,000. 39.85% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on GLP shares. BidaskClub cut shares of Global Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Global Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and set a $21.00 target price on shares of Global Partners in a research note on Friday, June 23rd. Finally, Janney Montgomery Scott started coverage on shares of Global Partners in a research note on Friday, June 23rd. They set a “neutral” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.40.
Global Partners LP (GLP) opened at 18.35 on Friday. Global Partners LP has a 52 week low of $14.85 and a 52 week high of $21.95. The stock has a 50 day moving average of $17.32 and a 200 day moving average of $18.07. The firm’s market cap is $615.72 million.
Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Global Partners had a negative net margin of 1.83% and a positive return on equity of 0.21%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Global Partners LP will post $0.99 EPS for the current year.
Global Partners Profile
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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