Global Partners (NYSE:GLP) Lowered to “Hold” Rating by Stifel Nicolaus

Global Partners (NYSE:GLP) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a $56.00 price objective on the energy company’s stock, up from their prior price objective of $54.00. Stifel Nicolaus’ price target would suggest a potential downside of 2.35% from the stock’s current price.

Global Partners Stock Down 0.1 %

GLP opened at $57.35 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The business’s 50-day moving average price is $53.02 and its 200-day moving average price is $49.51. The company has a market cap of $1.95 billion, a P/E ratio of 17.33 and a beta of 1.47. Global Partners has a 12 month low of $37.00 and a 12 month high of $60.00.

Hedge Funds Weigh In On Global Partners

A number of institutional investors have recently added to or reduced their stakes in GLP. US Bancorp DE lifted its position in Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after acquiring an additional 500 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Global Partners during the third quarter valued at approximately $93,000. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Global Partners in the 4th quarter worth approximately $288,000. Finally, XTX Topco Ltd purchased a new stake in shares of Global Partners in the 4th quarter worth approximately $302,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.