Global Partners LP (NYSE:GLP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $47.32 and traded as high as $50.36. Global Partners shares last traded at $50.1250, with a volume of 149,257 shares trading hands.
Analyst Upgrades and Downgrades
GLP has been the subject of a number of research reports. Zacks Research cut shares of Global Partners from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Global Partners from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Global Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.00.
Read Our Latest Research Report on GLP
Global Partners Stock Performance
The company has a market capitalization of $1.70 billion, a P/E ratio of 13.92 and a beta of 1.01. The business has a 50 day moving average of $47.70 and a 200-day moving average of $47.32. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12.
Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The energy company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.24 by $0.62. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $7.51 billion. Global Partners had a return on equity of 24.23% and a net margin of 0.77%. On average, sell-side analysts predict that Global Partners LP will post 4.71 EPS for the current fiscal year.
Global Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 10th. This is an increase from Global Partners's previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.2%. Global Partners's dividend payout ratio is currently 85.00%.
Hedge Funds Weigh In On Global Partners
A number of hedge funds have recently modified their holdings of GLP. BlackRock Inc. purchased a new stake in shares of Global Partners during the second quarter worth about $4,789,000. Alps Advisors Inc. grew its holdings in shares of Global Partners by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company's stock worth $251,093,000 after purchasing an additional 277,875 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Global Partners by 4.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company's stock worth $93,019,000 after purchasing an additional 85,347 shares during the period. Goldman Sachs Group Inc. increased its position in Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company's stock worth $25,457,000 after purchasing an additional 67,337 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Global Partners in the second quarter valued at approximately $379,000. 38.12% of the stock is currently owned by institutional investors.
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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