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

Global Partners (NYSE:GLP) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat reports. They presently have a $56.00 target price on the energy company’s stock, up from their prior target price of $54.00. Stifel Nicolaus’ price objective suggests a potential upside of 2.34% from the company’s current price.

Global Partners Stock Down 1.2 %

Global Partners stock opened at $54.72 on Tuesday. The stock has a market capitalization of $1.86 billion, a PE ratio of 16.53 and a beta of 1.47. Global Partners has a 12 month low of $37.00 and a 12 month high of $60.00. The business has a 50 day simple moving average of $53.26 and a 200-day simple moving average of $49.65. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64.

Institutional Trading of Global Partners

A number of institutional investors and hedge funds have recently made changes to their positions in GLP. US Bancorp DE increased its position in shares of Global Partners by 54.1% in the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after buying an additional 500 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Global Partners in the third quarter worth approximately $93,000. Albert D Mason Inc. boosted its stake in shares of Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock worth $253,000 after acquiring an additional 575 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Global Partners in the fourth quarter worth approximately $288,000. Finally, XTX Topco Ltd acquired a new stake in shares of Global Partners in the fourth quarter worth approximately $302,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

About Global Partners

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.