Global Partners (NYSE:GLP) Shares Pass Above 200-Day Moving Average of $28.96

Global Partners LP (NYSE:GLP – Get Rating)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.96 and traded as high as $33.55. Global Partners shares last traded at $33.33, with a volume of 439,374 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GLP shares. Stifel Nicolaus raised Global Partners from a “hold” rating to a “buy” rating in a report on Monday, November 7th. StockNews.com started coverage on Global Partners in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company.

Global Partners Stock Up 4.1 %

The company has a quick ratio of 0.69, a current ratio of 1.21 and a debt-to-equity ratio of 1.71. The company has a market cap of $1.13 billion, a PE ratio of 3.73 and a beta of 1.32. The stock has a 50-day moving average of $32.37 and a 200-day moving average of $28.96.

Global Partners (NYSE:GLP – Get Rating) last issued its quarterly earnings data on Friday, November 4th. The energy company reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $1.79. Global Partners had a return on equity of 51.58% and a net margin of 1.75%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.11 billion. Sell-side analysts predict that Global Partners LP will post 7.62 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 8th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date of this dividend was Monday, November 7th. This is an increase from Global Partners’s previous quarterly dividend of $0.61. Global Partners’s dividend payout ratio (DPR) is 28.00%.

Insider Buying and Selling

In other news, insider Global Gp Llc purchased 2,000 shares of the stock in a transaction on Wednesday, November 23rd. The shares were acquired at an average price of $31.50 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the insider now directly owns 55,944 shares of the company’s stock, valued at approximately $1,762,236. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 41.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Partners

A number of large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Global Partners during the fourth quarter valued at about $32,000. Jenkins Wealth purchased a new stake in Global Partners during the fourth quarter valued at about $328,000. B. Riley Wealth Advisors Inc. raised its position in Global Partners by 4.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 30,716 shares of the energy company’s stock valued at $761,000 after purchasing an additional 1,336 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in Global Partners during the third quarter valued at about $446,000. Finally, Tortoise Index Solutions LLC increased its holdings in shares of Global Partners by 3.1% in the third quarter. Tortoise Index Solutions LLC now owns 25,861 shares of the energy company’s stock worth $640,000 after buying an additional 766 shares during the period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

About Global Partners

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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 in the New England states, Mid-Atlantic region, and New York.