Global Partners (NYSE:GLP) Cut to Hold at Stifel Nicolaus

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

Global Partners Price Performance

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

Institutional Investors Weigh In On Global Partners

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Global Partners by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company’s stock valued at $74,904,000 after acquiring an additional 64,901 shares during the last quarter. Focus Partners Wealth bought a new stake in Global Partners in the 4th quarter worth approximately $1,029,000. United Capital Financial Advisors LLC raised its stake in Global Partners by 1.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company’s stock valued at $720,000 after buying an additional 226 shares during the last quarter. XTX Topco Ltd purchased a new stake in Global Partners during the 4th quarter valued at $302,000. Finally, Raymond James Financial Inc. bought a new position in shares of Global Partners during the 4th quarter valued at $6,510,000. 38.12% of the stock is currently owned by 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.