Stifel issues “Buy” Rating on Global Partners LP (GLP)

Global Partners LP (GLP) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 25 from a previous price target of $19 . Stifel advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Global Partners LP reported $-3.54 EPS for the quarter, missing the analyst consensus estimate by $ -3.51 based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus of $-0.03. The company had revenue of $2030.20 million for the quarter, compared to analysts expectations of $2343.95 million. The company’s revenue was down -18.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Several company insiders have filed Insider transactions , on Sep 4, 2015, Daphne H. Foster (CFO) purchased 2,000 shares at $31.17 per share price. According to the SEC, on Aug 14, 2015, Kenneth I Watchmaker (director) purchased 3,800 shares at $31.60 per share price.

Global Partners LP opened for trading at $20.7 and hit $21 on the upside on Friday, eventually ending the session at $20.5, with a gain of 0.49% or 0.1 points. The heightened volatility saw the trading volume jump to 56,114 shares. Company has a market cap of $697 M.

Global Partners LP is a midstream logistics and marketing company that engages in the purchasing selling and logistics of transporting petroleum and related products including domestic and Canadian crude oil gasoline and gasoline blendstocks distillates residual oil renewable fuels natural gas and propane. The Company operates through three segments: Wholesale Gasoline Distribution and Station Operations (GDSO) and Commercial. The Wholesale segment engages in the logistics of selling gathering storage and transportation of refined petroleum products renewable fuels crude oil and propane. The GDSO segment is engaged in gasoline distribution and station operations such as convenience store car wash and other ancillary sales. The Commercial segment includes sales and deliveries of unbranded gasoline home heating oil diesel kerosene residual oil bunker fuel and natural gas. The Company’s product brands include Global Diesel One and Heating Oil Plus.

Global Partners LP

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