Global Partners (NYSE:GLP) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Global Partners LP (NYSE:GLP - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $46.01 and traded as high as $48.35. Global Partners shares last traded at $46.91, with a volume of 168,013 shares traded.

Analyst Upgrades and Downgrades

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

Global Partners Price Performance

The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The company's 50-day moving average price is $50.45 and its 200-day moving average price is $46.01. The company has a market cap of $1.61 billion, a P/E ratio of 14.27 and a beta of 1.47.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $0.73 dividend. This is an increase from Global Partners's previous quarterly dividend of $0.72. The ex-dividend date was Friday, November 8th. This represents a $2.92 annualized dividend and a dividend yield of 6.18%. Global Partners's dividend payout ratio (DPR) is currently 88.22%.

Institutional Investors Weigh In On Global Partners

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the second quarter valued at approximately $41,000. Capital Performance Advisors LLP acquired a new stake in Global Partners in the 3rd quarter valued at $93,000. Stratos Wealth Advisors LLC bought a new stake in Global Partners during the 3rd quarter worth about $225,000. Fiducient Advisors LLC acquired a new position in shares of Global Partners during the 3rd quarter worth about $474,000. Finally, Stifel Financial Corp grew its holdings 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 acquiring an additional 2,166 shares in the last quarter. Institutional investors own 38.12% of the company's stock.

Global Partners Company Profile

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.