Global Partners (NYSE:GLP) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Global Partners LP (NYSE:GLP - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.48 and traded as high as $51.96. Global Partners shares last traded at $50.54, with a volume of 57,310 shares trading hands.

Analysts Set New Price Targets

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

Global Partners Stock Performance

The stock has a market cap of $1.85 billion, a P/E ratio of 16.42 and a beta of 1.47. The stock has a fifty day simple moving average of $51.07 and a 200-day simple moving average of $46.70. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41.

Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The energy company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.40). The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.60 earnings per share. Equities analysts expect that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 10th will be paid a $0.74 dividend. This is a boost from Global Partners's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, February 10th. This represents a $2.96 annualized dividend and a yield of 5.45%. Global Partners's payout ratio is presently 88.22%.

Hedge Funds Weigh In On Global Partners

Several hedge funds have recently modified their holdings of GLP. Capital Performance Advisors LLP bought a new position in Global Partners in the third quarter valued at approximately $93,000. Stratos Wealth Advisors LLC bought a new stake in Global Partners during the third quarter worth $225,000. Albert D Mason Inc. increased its position in Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock worth $253,000 after buying an additional 575 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in Global Partners during the 3rd quarter valued at $474,000. Finally, Stifel Financial Corp grew its stake in 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 buying an additional 2,166 shares during the last quarter. Institutional investors own 38.12% of the company's stock.

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.