Global Partners (NYSE:GLP) Hits New 52-Week High at $49.65

Shares of Global Partners LP (NYSE:GLPGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $49.65 and last traded at $48.32, with a volume of 70865 shares trading hands. The stock had previously closed at $49.34.

Analyst Ratings Changes

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

Get Our Latest Analysis on Global Partners

Global Partners Price Performance

The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 2.23. The firm has a market cap of $1.64 billion, a P/E ratio of 17.96 and a beta of 1.36. The company has a 50 day moving average of $45.97 and a two-hundred day moving average of $44.30.

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

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a $0.71 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.88%. Global Partners’s dividend payout ratio (DPR) is 105.58%.

Insider Activity at Global Partners

In related news, insider Global Gp Llc purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $46.69 per share, for a total transaction of $466,900.00. Following the transaction, the insider now directly owns 147,981 shares of the company’s stock, valued at approximately $6,909,232.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 80,000 shares of company stock worth $3,546,900 in the last quarter. 41.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global Partners

Several hedge funds have recently bought and sold shares of the business. Fractal Investments LLC lifted its stake in Global Partners by 46.5% in the 4th quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock worth $8,260,000 after acquiring an additional 62,000 shares in the last quarter. Blackstone Inc. lifted its stake in Global Partners by 11.2% in the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after acquiring an additional 13,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Global Partners by 0.3% in the 1st 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake 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 worth $1,786,000 after acquiring an additional 342 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Global Partners in the 4th quarter worth about $1,611,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

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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