Global Partners (NYSE:GLP) Shares Cross Above 200 Day Moving Average of $39.49

Global Partners LP (NYSE:GLPGet Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.49 and traded as high as $45.75. Global Partners shares last traded at $45.20, with a volume of 68,893 shares trading hands.

Analyst Upgrades and Downgrades

GLP has been the subject of a number of research analyst reports. StockNews.com raised shares of Global Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Stifel Nicolaus upped their price objective on shares of Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 27th.

Read Our Latest Report on Global Partners

Global Partners Stock Performance

The stock’s 50-day moving average is $46.40 and its 200-day moving average is $39.49. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 12.02 and a beta of 1.35. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02.

Global Partners (NYSE:GLPGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion for 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%. On average, analysts expect that Global Partners LP will post 3.9 EPS for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.19%. This is an increase from Global Partners’s previous quarterly dividend of $0.69. Global Partners’s dividend payout ratio (DPR) is presently 74.47%.

Institutional Trading of Global Partners

A number of hedge funds have recently made changes to their positions in the stock. Clear Street Markets LLC acquired a new position in Global Partners in the first quarter worth $28,000. Manchester Capital Management LLC acquired a new position in Global Partners in the third quarter worth $35,000. Tower Research Capital LLC TRC boosted its holdings in Global Partners by 211.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,072 shares of the energy company’s stock worth $33,000 after purchasing an additional 728 shares during the period. Signaturefd LLC acquired a new position in Global Partners in the fourth quarter worth $85,000. Finally, Credit Suisse AG acquired a new position in Global Partners in the second quarter worth $67,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

About Global Partners

(Get Free Report)

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.

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