Global Partners LP (NYSE:GLP - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus increased their target price 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.
Read Our Latest Stock Report on Global Partners
Global Partners Stock Down 2.2 %
The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The stock's 50-day simple moving average is $50.44 and its 200 day simple moving average is $46.07. The firm has a market cap of $1.59 billion, a P/E ratio of 14.11 and a beta of 1.47.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a $0.73 dividend. This is an increase from Global Partners's previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Friday, November 8th. Global Partners's payout ratio is presently 88.22%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of GLP. Infrastructure Capital Advisors LLC raised its holdings in shares of Global Partners by 57.7% during the third 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 period. JPMorgan Chase & Co. increased its position in Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock valued at $3,281,000 after buying an additional 69,704 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in 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 during the period. Stifel Financial Corp boosted its holdings in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Fiducient Advisors LLC acquired a new stake in Global Partners in the third quarter valued at approximately $474,000. 38.12% of the stock is owned by institutional investors.
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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