Global Partners LP (NYSE:GLP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.05 and traded as high as $54.00. Global Partners shares last traded at $51.19, with a volume of 67,199 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Stifel Nicolaus boosted their price target on Global Partners from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th.
Get Our Latest Analysis on GLP
Global Partners Trading Down 5.1 %
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 has a 50 day simple moving average of $50.25 and a two-hundred day simple moving average of $46.08. The company has a market cap of $1.65 billion, a PE ratio of 15.47 and a beta of 1.43.
Global Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.01%. This is an increase from Global Partners's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, November 8th. Global Partners's dividend payout ratio (DPR) is 88.22%.
Insider Buying and Selling at Global Partners
In related news, insider Global Gp Llc purchased 2,226 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $44.71 per share, for a total transaction of $99,524.46. Following the completion of the purchase, the insider now owns 268,307 shares in the company, valued at approximately $11,996,005.97. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Global Partners during the 2nd quarter valued at $41,000. Capital Performance Advisors LLP acquired a new position in shares of Global Partners in the third quarter worth $93,000. Spinnaker Trust bought a new position in Global Partners during the second quarter valued at approximately $203,000. Stratos Wealth Advisors LLC bought a new position in Global Partners during the third quarter valued at about $225,000. Finally, Fiducient Advisors LLC acquired a new stake in shares of Global Partners in the third quarter worth $474,000. 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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