Global Partners (NYSE:GLP) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Global Partners shares moved above their 200-day moving average, reaching $50.64 and last trading near $49.44, compared with the $48.20 long-term average.
• Analyst sentiment is mixed: the stock has one Buy and two Hold ratings, with an average rating of Hold and a $46 consensus price target—below its recent trading level.
• The company reported quarterly EPS of $1.86, beating estimates by $0.62, and raised its quarterly dividend to $0.78, representing a 6.3% annualized yield.

Global Partners LP (NYSE:GLP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $48.20 and traded as high as $50.64. Global Partners shares last traded at $49.4370, with a volume of 48,616 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Global Partners in a report on Friday, August 21st. Wall Street Zen upgraded Global Partners from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Finally, Zacks Research lowered shares of Global Partners from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $46.00.

Global Partners Stock Down 2.3%

The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.07 and a beta of 1.06. The business has a 50-day moving average price of $50.25 and a 200-day moving average price of $48.20.

Global Partners (NYSE:GLP - Get Free Report) last announced its earnings results on Friday, August 7th. The energy company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.24 by $0.62. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $7.51 billion. As a group, equities analysts anticipate that Global Partners LP will post 5.87 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $3.12 annualized dividend and a yield of 6.3%. This is an increase from Global Partners's previous quarterly dividend of $0.77. Global Partners's dividend payout ratio (DPR) is currently 63.54%.

Institutional Investors Weigh In On Global Partners

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in Global Partners during the second quarter valued at $273,000. Waverly Advisors LLC boosted its position in Global Partners by 42.9% during the second quarter. Waverly Advisors LLC now owns 82,816 shares of the energy company's stock worth $3,858,000 after purchasing an additional 24,868 shares during the period. Bank of America Corp DE bought a new stake in Global Partners during the second quarter worth approximately $264,000. Ancora Advisors LLC acquired a new position in Global Partners during the second quarter valued at approximately $156,000. Finally, Bard Associates Inc. acquired a new position in Global Partners in the 2nd quarter valued at $936,000. Institutional investors and hedge funds own 38.12% of the company's stock.

About Global Partners

Global Partners LP NYSE: GLP is an energy supply, logistics and retail company headquartered in Waltham, Massachusetts. The company purchases, stores, transports and sells petroleum and related products, including gasoline, diesel fuel, heating oil, crude oil, renewable fuels and other refined products.

Global Partners operates a network of terminals and transportation assets that supports the wholesale distribution of energy products to wholesalers, commercial and industrial customers, distributors and other businesses.

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