Global Partners LP (GLP) Shares Bought by GSA Capital Partners LLP
GSA Capital Partners LLP boosted its stake in Global Partners LP (NYSE:GLP) by 34.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,276 shares of the energy company’s stock after buying an additional 16,720 shares during the quarter. GSA Capital Partners LLP owned approximately 0.19% of Global Partners worth $1,136,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in GLP. Bank of Montreal Can purchased a new stake in Global Partners in the 2nd quarter worth approximately $451,000. HITE Hedge Asset Management LLC lifted its position in Global Partners by 5.2% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 653,220 shares of the energy company’s stock worth $11,791,000 after buying an additional 32,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Global Partners by 448.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock worth $188,000 after buying an additional 8,534 shares in the last quarter. Wells Fargo & Company MN lifted its position in Global Partners by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 17,412 shares of the energy company’s stock worth $314,000 after buying an additional 154 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Global Partners by 3.9% in the 2nd quarter. California Public Employees Retirement System now owns 146,900 shares of the energy company’s stock worth $2,652,000 after buying an additional 5,500 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.
GLP has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Global Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. TheStreet upgraded shares of Global Partners from a “d+” rating to a “c” rating in a research report on Thursday, November 30th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Global Partners in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.00.
Global Partners (NYSE:GLP) last released its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.29 billion. Global Partners had a negative net margin of 0.28% and a positive return on equity of 3.95%. Global Partners’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned ($3.54) EPS. sell-side analysts forecast that Global Partners LP will post 1.27 earnings per share for the current fiscal year.
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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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