Global Partners LP (GLP)’s Trend Up, Especially After Forming a Double Top Pattern

November 10, 2018 - By Peter Kolinski

Global Partners LP (NYSE:GLP) Logo

Investors sentiment decreased to 0.59 in 2018 Q2. Its down 0.03, from 0.62 in 2018Q1. It worsened, as 7 investors sold Global Partners LP shares while 15 reduced holdings. 5 funds opened positions while 8 raised stakes. 13.71 million shares or 1.30% less from 13.89 million shares in 2018Q1 were reported.
Deutsche National Bank Ag reported 11,697 shares. California-based Fort Point Prtnrs Ltd Limited Liability Company has invested 0.08% in Global Partners LP (NYSE:GLP). Geode Capital Mngmt Ltd Liability Corp invested 0% of its portfolio in Global Partners LP (NYSE:GLP). Janney Montgomery Scott has 0% invested in Global Partners LP (NYSE:GLP). Hite Hedge Asset Mngmt Ltd Liability holds 0.85% of its portfolio in Global Partners LP (NYSE:GLP) for 318,482 shares. Wells Fargo And Mn, California-based fund reported 27,286 shares. Kayne Anderson L P has 0.53% invested in Global Partners LP (NYSE:GLP) for 2.38M shares. Clearbridge Investments Ltd Com accumulated 173,670 shares. California Public Employees Retirement Sys invested 0% in Global Partners LP (NYSE:GLP). Royal Natl Bank Of Canada holds 0% in Global Partners LP (NYSE:GLP) or 275,354 shares. Financial Bank Of America Corporation De reported 189,977 shares stake. Regions, a Alabama-based fund reported 2,454 shares. Alphamark Advsrs Ltd Liability owns 200 shares for 0% of their portfolio. Gsa Llp reported 0.01% stake. Texas Yale Cap holds 23,550 shares.

The chart of Global Partners LP (GLP) shows a double top with $20.09 target or 4.00 % above today’s $19.32 share price. The 5 months chart pattern indicates low risk for the $654.61M company. It was reported on Nov, 10 by Finviz.com. If the $20.09 price target is reached, the company will be worth $26.18 million more. Double tops are rare but powerful chart patterns.

The stock decreased 1.58% or $0.31 during the last trading session, reaching $19.32. About 161,324 shares traded or 103.15% up from the average. Global Partners LP (NYSE:GLP) has risen 7.60% since November 10, 2017 and is uptrending. It has underperformed by 8.02% the S&P500.

Analysts await Global Partners LP (NYSE:GLP) to report earnings on November, 14. They expect $0.27 earnings per share, down 38.64 % or $0.17 from last year’s $0.44 per share. GLP’s profit will be $9.15M for 17.89 P/E if the $0.27 EPS becomes a reality. After $0.19 actual earnings per share reported by Global Partners LP for the previous quarter, Wall Street now forecasts 42.11 % EPS growth.

More notable recent Global Partners LP (NYSE:GLP) news were published by: Benzinga.com which released: “Earnings Scheduled For November 8, 2018” on November 08, 2018, also Seekingalpha.com with their article: “Buy The Dip With 10.5% Yield And 141% Coverage, Conviction Buy” published on October 27, 2018, Streetinsider.com published: “Global Partners (GLP) Misses Q3 EPS by 71c, Revenue Beats” on November 06, 2018. More interesting news about Global Partners LP (NYSE:GLP) were released by: Seekingalpha.com and their article: “Global Partners LP (GLP) CEO Eric Slifka on Q3 2018 Results – Earnings Call Transcript” published on November 08, 2018 as well as Twst.com‘s news article titled: “Global Partners LP: Global Partners Reports Third-Quarter 2018 Financial Results” with publication date: November 08, 2018.

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial clients in the New England states and New York. The company has market cap of $654.61 million. It operates in three divisions: Wholesale, Gasoline Distribution and Station Operations, and Commercial. It has a 6.63 P/E ratio. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks.

Global Partners LP (NYSE:GLP) Institutional Positions Chart

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