Global Partners (NYSE:GLP) Sets New 12-Month Low at $0.10

Global Partners LP (NYSE:GLPGet Free Report)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $0.10 and last traded at $46.25, with a volume of 15768 shares trading hands. The stock had previously closed at $48.33.

Wall Street Analysts Forecast Growth

Separately, cut Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

View Our Latest Stock Report on GLP

Global Partners Trading Down 0.2 %

The business’s 50-day simple moving average is $45.68 and its two-hundred day simple moving average is $44.05. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 17.75 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 2.23.

Global Partners (NYSE:GLPGet Free Report) last posted its earnings results on Wednesday, May 8th. The energy company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.47). The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $5.22 billion. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. Equities analysts forecast that Global Partners LP will post 3.11 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, May 9th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.95%. Global Partners’s payout ratio is presently 105.58%.

Insider Buying and Selling

In other news, insider Global Gp Llc bought 10,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $46.69 per share, with a total value of $466,900.00. Following the transaction, the insider now directly owns 147,981 shares in the company, valued at approximately $6,909,232.89. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 80,000 shares of company stock valued at $3,546,900. Corporate insiders own 41.50% of the company’s stock.

Institutional Investors Weigh In On Global Partners

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. increased its position in shares of Global Partners by 0.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock worth $5,038,000 after acquiring an additional 319 shares during the period. Apollon Wealth Management LLC increased its holdings in Global Partners by 3.1% during the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock worth $458,000 after purchasing an additional 325 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Global Partners by 0.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock valued at $1,786,000 after purchasing an additional 342 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Global Partners by 5.3% in the 4th quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock valued at $673,000 after buying an additional 807 shares during the period. Finally, Manchester Capital Management LLC acquired a new position in shares of Global Partners during the third quarter worth about $35,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Global Partners Company Profile

(Get Free Report)

Global Partners LP 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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