Global Partners LP (NYSE:GLP - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $45.25 and traded as high as $49.57. Global Partners shares last traded at $48.49, with a volume of 117,748 shares trading hands.
Wall Street Analyst Weigh In
Several research firms recently issued reports on GLP. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Global Partners in a report on Friday, March 27th. Stifel Nicolaus upped their price target on shares of Global Partners from $45.00 to $46.00 and gave the company a "hold" rating in a report on Monday, March 2nd. Zacks Research raised shares of Global Partners from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Finally, Wall Street Zen raised shares of Global Partners from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Global Partners has an average rating of "Moderate Buy" and a consensus target price of $46.00.
Read Our Latest Report on GLP
Global Partners Stock Up 1.5%
The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.98 and a beta of 1.04. The stock's fifty day simple moving average is $46.57 and its two-hundred day simple moving average is $45.25. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63.
Global Partners (NYSE:GLP - Get Free Report) last issued its earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 0.53% and a return on equity of 15.99%. On average, sell-side analysts predict that Global Partners LP will post 3.19 earnings per share for the current fiscal year.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.765 per share. This represents a $3.06 dividend on an annualized basis and a dividend yield of 6.3%. This is a positive change from Global Partners's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Monday, May 11th. Global Partners's dividend payout ratio is currently 144.08%.
Insider Buying and Selling at Global Partners
In other Global Partners news, COO Mark Romaine sold 2,020 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $48.19, for a total transaction of $97,343.80. Following the sale, the chief operating officer directly owned 141,609 shares of the company's stock, valued at approximately $6,824,137.71. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 24,063 shares of company stock worth $1,146,471 over the last 90 days. 41.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Global Partners
A number of large investors have recently modified their holdings of GLP. McMillan Office Inc. acquired a new stake in shares of Global Partners in the 4th quarter worth about $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Global Partners in the 4th quarter worth about $29,000. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the 4th quarter worth about $41,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners in the 3rd quarter worth about $48,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of Global Partners in the 4th quarter worth about $85,000. Institutional investors and hedge funds own 38.12% of the company's stock.
Global Partners Company Profile
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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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