Global Partners LP (NYSE:GLP - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $47.71 and traded as high as $56.72. Global Partners shares last traded at $55.97, with a volume of 52,396 shares changing hands.
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 research report on Tuesday, November 12th.
View Our Latest Analysis on Global Partners
Global Partners Stock Performance
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 firm has a market cap of $1.96 billion, a P/E ratio of 17.37 and a beta of 1.47. The business's 50-day simple moving average is $51.43 and its 200 day simple moving average is $48.07.
Global Partners Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.15%. 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 payout ratio is 88.22%.
Institutional Investors Weigh In On Global Partners
A number of large investors have recently added to or reduced their stakes in GLP. Proficio Capital Partners LLC grew its position in Global Partners by 4,555.0% in the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock worth $270,863,000 after purchasing an additional 5,693,750 shares during the period. Raymond James Financial Inc. bought a new stake in Global Partners in the 4th quarter worth approximately $6,510,000. JPMorgan Chase & Co. boosted its stake in shares of Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock worth $3,281,000 after acquiring an additional 69,704 shares during the last quarter. NBW Capital LLC purchased a new position in shares of Global Partners during the 4th quarter worth $2,431,000. Finally, Infrastructure Capital Advisors LLC boosted its stake in shares of Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company's stock worth $6,572,000 after acquiring an additional 51,630 shares during the last quarter. 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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