Global Partners (NYSE:GLP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Global Partners LP (NYSE:GLPGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $46.07 and traded as high as $47.75. Global Partners shares last traded at $46.70, with a volume of 34,963 shares.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price objective on Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Check Out Our Latest Analysis on GLP

Global Partners Stock Down 2.2 %

The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 14.11 and a beta of 1.47. The firm has a 50-day moving average of $50.44 and a two-hundred day moving average of $46.07.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 6.25%. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s payout ratio is currently 88.22%.

Hedge Funds Weigh In On Global Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Global Partners during the third quarter valued at about $93,000. Stratos Wealth Advisors LLC bought a new stake in shares of Global Partners in the 3rd quarter valued at approximately $225,000. Fiducient Advisors LLC bought a new stake in shares of Global Partners in the 3rd quarter valued at approximately $474,000. Stifel Financial Corp grew its stake in shares of Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 2,166 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Global Partners by 2.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after purchasing an additional 725 shares during the period. 38.12% of the stock is currently owned by 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.

Further Reading

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