Global Partners (NYSE:GLP) Shares Gap Down - Should You Sell?

Global Partners LP (NYSE:GLP - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $54.00, but opened at $52.76. Global Partners shares last traded at $53.94, with a volume of 2,530 shares changing hands.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered shares of Global Partners from a "buy" rating to a "hold" rating and lifted their price objective for the company from $54.00 to $56.00 in a report on Tuesday, March 4th.

Global Partners Stock Down 1.7%

The business's fifty day moving average is $50.84 and its two-hundred day moving average is $52.38. The company has a market cap of $1.88 billion, a P/E ratio of 16.70 and a beta of 1.05. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14.

Global Partners (NYSE:GLP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.39. The business had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. Equities analysts predict that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 9th were given a dividend of $0.745 per share. This is an increase from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date was Friday, May 9th. This represents a $2.98 dividend on an annualized basis and a yield of 5.39%. Global Partners's dividend payout ratio (DPR) is 94.60%.

Insider Buying and Selling at Global Partners

In other news, COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 41.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of Global Partners in the 4th quarter worth approximately $330,000. JPMorgan Chase & Co. grew its position in shares of Global Partners by 53.8% in the 4th quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock worth $5,044,000 after buying an additional 37,893 shares during the last quarter. ING Groep NV purchased a new stake in Global Partners during the 4th quarter worth approximately $1,536,000. Raymond James Financial Inc. purchased a new stake in Global Partners during the 4th quarter worth approximately $6,510,000. Finally, Proficio Capital Partners LLC increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 38.12% of the company's stock.

About Global Partners

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.