Global Partners LP (NYSE:GLP - Get Free Report) shares fell 2.6% on Thursday . The company traded as low as $48.07 and last traded at $48.09. 9,216 shares were traded during trading, a decline of 91% from the average session volume of 97,111 shares. The stock had previously closed at $49.38.
Analysts Set New Price Targets
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 note on Tuesday, November 12th.
Check Out Our Latest Stock Report on GLP
Global Partners Trading Down 2.6 %
The business's 50-day moving average price is $50.36 and its two-hundred day moving average price is $46.07. 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 firm has a market cap of $1.64 billion, a price-to-earnings ratio of 14.53 and a beta of 1.43.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were paid a dividend of $0.73 per share. 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 yield of 6.07%. Global Partners's dividend payout ratio is presently 88.22%.
Hedge Funds Weigh In On Global Partners
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Infrastructure Capital Advisors LLC increased its holdings in shares of Global Partners by 57.7% in the third 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 in the last quarter. JPMorgan Chase & Co. increased its position in 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 buying an additional 69,704 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Global Partners by 2.2% during the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company's stock worth $1,548,000 after purchasing an additional 725 shares during the period. Stifel Financial Corp increased its holdings 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 period. Finally, Fiducient Advisors LLC acquired a new position in shares of Global Partners during the 3rd quarter worth $474,000. 38.12% of the stock is owned by institutional investors.
About Global Partners
(
Get Free Report)
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.
Read More
Before you consider Global Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Partners wasn't on the list.
While Global Partners currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
