Global Partners (NYSE:GLP) Shares Gap Down to $47.67

Global Partners LP (NYSE:GLP - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $47.67, but opened at $43.82. Global Partners shares last traded at $45.50, with a volume of 19,004 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Global Partners from a "buy" rating to a "hold" rating in a research report on Tuesday, April 23rd.

Global Partners Stock Down 6.1 %

The business's fifty day moving average price is $46.40 and its two-hundred day moving average price is $42.24. The firm has a market capitalization of $1.54 billion, a P/E ratio of 12.08 and a beta of 1.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 1.12.

Global Partners (NYSE:GLP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. Equities analysts expect that Global Partners LP will post 3.53 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 Wednesday, May 15th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a boost from Global Partners's previous quarterly dividend of $0.70. Global Partners's payout ratio is 75.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Global Partners by 1.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,874 shares of the energy company's stock worth $1,479,000 after buying an additional 443 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Global Partners by 196.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 84,473 shares of the energy company's stock valued at $2,984,000 after buying an additional 56,026 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Global Partners in the third quarter valued at $212,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Global Partners by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company's stock valued at $13,807,000 after acquiring an additional 16,503 shares during the last quarter. Finally, Fractal Investments LLC increased its position in Global Partners by 1.8% during the 3rd quarter. Fractal Investments LLC now owns 133,234 shares of the energy company's stock worth $4,706,000 after purchasing an additional 2,346 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company's stock.

Global Partners Company Profile

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.