Global Partners LP (NYSE:GLP - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $48.50 and traded as high as $49.74. Global Partners shares last traded at $48.5650, with a volume of 40,293 shares traded.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on GLP. Weiss Ratings raised shares of Global Partners from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, September 28th. Zacks Research cut shares of Global Partners from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised Global Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $46.00.
Read Our Latest Stock Report on GLP
Global Partners Stock Performance
The company has a debt-to-equity ratio of 2.44, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a market capitalization of $1.65 billion, a PE ratio of 9.89 and a beta of 1.11. The stock has a 50 day moving average of $49.85 and a two-hundred day moving average of $48.50.
Global Partners (NYSE:GLP - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The energy company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.62. The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $7.51 billion. Global Partners had a return on equity of 30.87% and a net margin of 0.91%. Research analysts expect that Global Partners LP will post 6.02 EPS for the current fiscal year.
Global Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 10th. This is an increase from Global Partners's previous quarterly dividend of $0.7650. This represents a $3.12 annualized dividend and a yield of 6.4%. Global Partners's dividend payout ratio (DPR) is currently 63.54%.
Institutional Investors Weigh In On Global Partners
A number of hedge funds and other institutional investors have recently modified their holdings of GLP. Global Retirement Partners LLC acquired a new position in shares of Global Partners during the 2nd quarter worth $60,000. Compass Wealth Management LLC acquired a new stake in Global Partners during the 3rd quarter valued at $93,000. CENTRAL TRUST Co acquired a new stake in shares of Global Partners during the 1st quarter worth about $105,000. Ieq Capital LLC acquired a new stake in Global Partners during the second quarter worth approximately $117,000. Finally, Deutsche Bank AG purchased a new stake in Global Partners in the 2nd quarter worth approximately $119,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.
Global Partners Company Profile
(
Get Free Report)
Global Partners LP NYSE: GLP is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company's activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.
Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.
Further Reading
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