Global Partners LP (NYSE:GLP - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $49.86 and last traded at $51.29, with a volume of 40795 shares trading hands. The stock had previously closed at $51.69.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus downgraded Global Partners from a "buy" rating to a "hold" rating and upped their price target for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.
Check Out Our Latest Analysis on GLP
Global Partners Stock Down 0.8 %
The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 15.50 and a beta of 1.16. The firm has a 50-day moving average of $52.72 and a two-hundred day moving average of $51.74. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41.
Global Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 9th will be given a dividend of $0.745 per share. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 dividend on an annualized basis and a yield of 5.81%. Global Partners's dividend payout ratio (DPR) is 123.14%.
Insider Activity at Global Partners
In other Global Partners news, COO Mark Romaine sold 2,195 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.06, for a total value of $118,661.70. Following the sale, the chief operating officer now owns 156,198 shares of the company's stock, valued at $8,444,063.88. The trade was a 1.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 41.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC lifted its holdings in Global Partners by 4,555.0% during the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock valued at $270,863,000 after purchasing an additional 5,693,750 shares during the last quarter. Alps Advisors Inc. boosted its stake in Global Partners by 12.8% in the first quarter. Alps Advisors Inc. now owns 5,584,745 shares of the energy company's stock worth $298,114,000 after purchasing an additional 635,126 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Partners by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company's stock worth $74,904,000 after purchasing an additional 64,901 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Global Partners by 8.1% during the first quarter. Pallas Capital Advisors LLC now owns 1,601,904 shares of the energy company's stock valued at $85,510,000 after purchasing an additional 119,924 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Global Partners in the fourth quarter valued at approximately $6,510,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.
Global Partners Company Profile
(
Get Free Report)
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.
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