Global Partners (NYSE:GLP) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Global Partners LP (NYSE:GLP) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.05 and traded as high as $54.00. Global Partners shares last traded at $51.19, with a volume of 67,199 shares.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price target on shares of Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

Global Partners Price Performance

The company’s fifty day moving average price is $50.19 and its 200 day moving average price is $46.05. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.47 and a beta of 1.43.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 5.70%. Global Partners’s payout ratio is 88.22%.

Insider Activity

In other news, insider Global Gp Llc acquired 2,226 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $44.71 per share, for a total transaction of $99,524.46. Following the transaction, the insider now directly owns 268,307 shares in the company, valued at $11,996,005.97. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 41.50% of the company’s stock.

Institutional Trading of Global Partners

Hedge funds have recently bought and sold shares of the company. Infrastructure Capital Advisors LLC lifted its position in Global Partners by 57.7% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock valued at $6,572,000 after purchasing an additional 51,630 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Global Partners in the 2nd quarter valued at about $41,000. Exchange Traded Concepts LLC raised its position in shares of Global Partners by 2.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after buying an additional 725 shares in the last quarter. Spinnaker Trust bought a new stake in shares of Global Partners during the 2nd quarter worth about $203,000. Finally, Fiducient Advisors LLC bought a new stake in shares of Global Partners during the 3rd quarter worth about $474,000. 38.12% of the stock is currently owned by institutional investors.

About Global Partners

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.