Global Partners (NYSE:GLP) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Technical breakout: GLP's share price crossed above its 200-day moving average of $45.19, trading as high as $46.71 and last at $45.52 on light volume (~17,350 shares).
• Dividend vs. fundamentals: The company pays a quarterly dividend of $0.76 (annualized $3.04) for a ~6.7% yield, but the dividend payout ratio is an elevated 144% and the most recent quarter missed EPS ($0.54 vs. $0.60) and revenue estimates—raising sustainability concerns.
• Mixed analyst and insider signals: Analysts hold a consensus "Hold" rating with a $46.00 price target despite some recent upgrades, while insiders have been net sellers (COO sold 7,500 shares) and insiders own about 41.5% of the stock.

Global Partners LP (NYSE:GLP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.19 and traded as high as $46.71. Global Partners shares last traded at $45.5230, with a volume of 17,350 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GLP. Zacks Research raised Global Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Global Partners from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Stifel Nicolaus upped their price objective on shares of Global Partners from $45.00 to $46.00 and gave the stock a "hold" rating in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Global Partners in a research report on Friday, March 27th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.00.

Global Partners Stock Performance

The stock has a market cap of $1.55 billion, a P/E ratio of 21.57 and a beta of 1.04. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63. The company has a fifty day moving average of $46.97 and a 200 day moving average of $45.19.

Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.06). Global Partners had a net margin of 0.53% and a return on equity of 15.99%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $6.94 billion. On average, equities analysts predict that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 9th were paid a dividend of $0.76 per share. This is an increase from Global Partners's previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Monday, February 9th. Global Partners's dividend payout ratio (DPR) is 144.08%.

Insider Transactions at Global Partners

In other Global Partners news, COO Mark Romaine sold 7,500 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $47.39, for a total value of $355,425.00. Following the sale, the chief operating officer directly owned 151,609 shares in the company, valued at approximately $7,184,750.51. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 24,063 shares of company stock worth $1,146,471 over the last quarter. 41.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Partners

Hedge funds have recently made changes to their positions in the business. McMillan Office Inc. bought a new stake in shares of Global Partners in the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in Global Partners during the fourth quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new position in Global Partners in the fourth quarter worth approximately $41,000. PNC Financial Services Group Inc. acquired a new position in Global Partners in the third quarter worth approximately $48,000. Finally, Smartleaf Asset Management LLC bought a new position in shares of Global Partners in the fourth quarter valued at $85,000. Institutional investors and hedge funds own 38.12% of the company's stock.

Global Partners Company Profile

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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