Global Partners LP (NYSE:GLP - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.75 and traded as high as $49.18. Global Partners shares last traded at $47.80, with a volume of 87,715 shares trading hands.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Zacks Research upgraded Global Partners from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Wall Street Zen cut Global Partners from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 24th. Weiss Ratings upgraded Global Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus upped their price target on Global Partners from $45.00 to $46.00 and gave the company a "hold" rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Global Partners currently has an average rating of "Buy" and an average price target of $46.00.
Read Our Latest Analysis on GLP
Global Partners Stock Up 1.0%
The firm has a fifty day moving average price of $46.97 and a 200 day moving average price of $45.75. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 2.58. The company has a market cap of $1.63 billion, a P/E ratio of 13.28 and a beta of 1.02.
Global Partners (NYSE:GLP - Get Free Report) last announced its earnings results on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, topping the consensus estimate of $0.33 by $1.52. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $6.98 billion. Global Partners had a return on equity of 24.23% and a net margin of 0.77%. Equities research analysts forecast that Global Partners LP will post 4.71 earnings per share for the current year.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were issued a dividend of $0.765 per share. The ex-dividend date was Monday, May 11th. This is a boost from Global Partners's previous quarterly dividend of $0.76. This represents a $3.06 annualized dividend and a dividend yield of 6.4%. Global Partners's dividend payout ratio (DPR) is currently 85.00%.
Insider Transactions at Global Partners
In related news, COO Mark Romaine sold 7,500 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $47.39, for a total value of $355,425.00. Following the transaction, the chief operating officer owned 151,609 shares in the company, valued at $7,184,750.51. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 24,063 shares of company stock valued at $1,146,471 in the last quarter. 41.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Global Partners
Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in Global Partners by 4.9% in the fourth quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company's stock valued at $251,093,000 after acquiring an additional 277,875 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Global Partners by 4.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company's stock valued at $93,019,000 after acquiring an additional 85,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Global Partners by 12.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company's stock valued at $25,457,000 after acquiring an additional 67,337 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Global Partners by 13.1% in the fourth quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company's stock valued at $18,421,000 after acquiring an additional 50,890 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Global Partners by 26.6% in the third quarter. UBS Group AG now owns 235,024 shares of the energy company's stock valued at $11,281,000 after acquiring an additional 49,319 shares during the last quarter. Institutional investors own 38.12% of the company's stock.
About Global Partners
(
Get Free Report)
Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.
Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.
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