Global Partners LP (NYSE:GLP - Get Free Report)'s share price was up 7.5% during trading on Tuesday . The stock traded as high as $49.87 and last traded at $49.71. Approximately 29,569 shares changed hands during trading, a decline of 55% from the average daily volume of 65,776 shares. The stock had previously closed at $46.26.
Analyst Ratings Changes
Separately, Stifel Nicolaus lifted their price target 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.
Check Out Our Latest Stock Analysis on Global Partners
Global Partners Stock Up 6.7 %
The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 14.92 and a beta of 1.47. The stock has a 50 day moving average of $50.46 and a 200 day moving average of $46.11.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a dividend of $0.73 per share. This is a positive change from Global Partners's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.92 annualized dividend and a yield of 5.91%. Global Partners's payout ratio is presently 88.22%.
Institutional Trading of Global Partners
A number of institutional investors and hedge funds have recently made changes to their positions in GLP. Infrastructure Capital Advisors LLC boosted its stake in Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company's stock valued at $6,572,000 after purchasing an additional 51,630 shares during the period. Stifel Financial Corp raised its holdings in shares of Global Partners by 7.3% during the third 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. Exchange Traded Concepts LLC boosted its position 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 buying an additional 725 shares during the period. Fiducient Advisors LLC bought a new position in Global Partners in the 3rd quarter worth approximately $474,000. Finally, Capital Performance Advisors LLP acquired a new stake in Global Partners in the 3rd quarter valued at approximately $93,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.
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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