Global Partners (NYSE:GLP) Hits New 12-Month High - Time to Buy?

Global Partners LP (NYSE:GLP - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $59.03 and last traded at $57.17, with a volume of 18430 shares. The stock had previously closed at $58.01.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their price objective on shares of Global Partners from $51.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th.

Global Partners Stock Up 0.3 %

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 stock has a market cap of $1.99 billion, a PE ratio of 17.64 and a beta of 1.47. The company's 50-day moving average price is $51.41 and its 200 day moving average price is $47.43.

Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The energy company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.40). The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $5.88 billion. Global Partners had a return on equity of 22.07% and a net margin of 0.82%. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, analysts forecast that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Global Partners's previous quarterly dividend of $0.73. Global Partners's dividend payout ratio (DPR) is 89.43%.

Institutional Trading of Global Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its position in Global Partners by 54.1% in the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after purchasing an additional 500 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Global Partners in the 3rd quarter worth about $93,000. Stratos Wealth Advisors LLC purchased a new stake in shares of Global Partners during the 3rd quarter valued at about $225,000. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after acquiring an additional 575 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in Global Partners in the fourth quarter worth about $330,000. 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.