Global Partners (NYSE:GLP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

A number of other equities research analysts have also recently issued reports on the company. ValuEngine upgraded Global Partners from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price target (up from $17.00) on shares of Global Partners in a research note on Friday, August 10th. Wells Fargo & Co boosted their price target on Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, September 13th. Finally, Mitsubishi UFJ Financial Group boosted their price target on Global Partners and gave the company an “underweight” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Global Partners currently has an average rating of “Hold” and an average price target of $19.75.

Shares of NYSE:GLP traded up $0.08 during trading on Tuesday, reaching $19.91. 354,100 shares of the stock were exchanged, compared to its average volume of 73,515. Global Partners has a 12 month low of $15.16 and a 12 month high of $21.05. The stock has a market cap of $656.79 million, a PE ratio of 14.32 and a beta of 0.76. The company has a quick ratio of 0.67, a current ratio of 1.28 and a debt-to-equity ratio of 3.05.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, November 8th. The energy company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.71). Global Partners had a return on equity of 1.82% and a net margin of 0.59%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $2.73 billion. Equities research analysts expect that Global Partners will post 0.62 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its position in Global Partners by 18.8% during the first quarter. Wells Fargo & Company MN now owns 27,931 shares of the energy company’s stock valued at $429,000 after purchasing an additional 4,414 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Global Partners during the second quarter valued at approximately $181,000. Albert D Mason Inc. raised its position in Global Partners by 57.6% during the third quarter. Albert D Mason Inc. now owns 29,105 shares of the energy company’s stock valued at $530,000 after purchasing an additional 10,635 shares in the last quarter. GSA Capital Partners LLP raised its position in Global Partners by 132.1% during the third quarter. GSA Capital Partners LLP now owns 29,186 shares of the energy company’s stock valued at $531,000 after purchasing an additional 16,610 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Global Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 188,755 shares of the energy company’s stock valued at $3,218,000 after purchasing an additional 18,515 shares in the last quarter. Institutional investors and hedge funds own 41.33% of the company’s stock.

Global Partners Company Profile

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

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