Global Partners Lp Gets a Buy Rating from Stifel Nicolaus

By Jason Carr

Stifel Nicolaus analyst Selman Akyol reiterated a Buy rating on Global Partners Lp (NYSE: GLP) on June 22 and set a price target of $21. The company’s shares closed yesterday at $17.85.

According to TipRanks.com, Akyol is a 2-star analyst with an average return of 0.0% and a 45.3% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Vanguard Natural Resources LLC, Energy Transfer Partners LP, and Penntex Midstream Partners.

Global Partners Lp has an analyst consensus of Moderate Buy, with a price target consensus of $21.

Based on Global Partners Lp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.27 billion and quarterly net profit of $22.79 million. In comparison, last year the company earned revenue of $1.75 billion and had a GAAP net loss of $6.98 million.

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Global Partners LP engages in the purchasing, sale, storing, and logistics of transporting petroleum and related products. It operates through the following segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment is the logistics of selling, gathering, storage and transportation of refined petroleum products, renewable fuels, crude oil and propane. The GDSO segment refers to the gasoline distribution and includes sales of branded and unbranded gasoline to gasoline stations operators and sub-jobbers. The Commercial segment handles sales and deliveries to end user customers in the public sector and to large commercial and industrial end users of unbranded gasoline, home heating oil, diesel, kerosene, residual oil, bunker fuel, and natural gas. The company was founded in March 2005 and is headquartered in Waltham, MA.,0077JG-E