Global Partners LP (NYSE:GLP - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $59.42 and last traded at $59.19, with a volume of 59509 shares changing hands. The stock had previously closed at $57.23.
Analyst Ratings Changes
Separately, Stifel Nicolaus raised 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.
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Global Partners Stock Down 2.3 %
The firm has a market cap of $1.99 billion, a P/E ratio of 17.67 and a beta of 1.47. 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 business's fifty day moving average price is $51.76 and its two-hundred day moving average price is $48.45.
Global Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was 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 Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of Global Partners by 54.1% during the 4th 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 period. Capital Performance Advisors LLP acquired a new position in Global Partners in the third quarter valued at about $93,000. Albert D Mason Inc. boosted its position in Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after buying an additional 575 shares in the last quarter. Virtu Financial LLC acquired a new position in Global Partners in the fourth quarter valued at about $288,000. Finally, XTX Topco Ltd bought a new position in shares of Global Partners in the fourth quarter worth about $302,000. Institutional investors own 38.12% of the company's stock.
About Global Partners
(
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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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