Global Partners (NYSE:GLP) Sees Unusually-High Trading Volume – What’s Next?

Global Partners LP (NYSE:GLP) shares saw unusually-strong trading volume on Monday . Approximately 51,726 shares traded hands during trading, an increase of 7% from the previous session’s volume of 48,141 shares.The stock last traded at $45.40 and had previously closed at $45.00.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GLP shares. Stifel Nicolaus boosted their target price on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research note on Friday, March 27th. Wall Street Zen raised Global Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.00.

Global Partners Stock Up 2.3%

The firm has a market capitalization of $1.57 billion, a PE ratio of 21.82 and a beta of 1.04. The stock has a 50-day simple moving average of $47.02 and a 200-day simple moving average of $45.35. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.06). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $6.94 billion. Analysts forecast that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a dividend of $0.76 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Monday, February 9th. Global Partners’s dividend payout ratio (DPR) is 144.08%.

Insider Buying and Selling at Global Partners

In other news, COO Mark Romaine sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $47.39, for a total value of $355,425.00. Following the sale, the chief operating officer owned 151,609 shares of the company’s stock, valued at $7,184,750.51. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 24,063 shares of company stock valued at $1,146,471 in the last three months. 41.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. McMillan Office Inc. bought a new stake in Global Partners during the 4th quarter valued at $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $29,000. International Assets Investment Management LLC purchased a new stake in Global Partners during the 4th quarter worth about $41,000. PNC Financial Services Group Inc. bought a new position in Global Partners in the 3rd quarter worth about $48,000. Finally, Smartleaf Asset Management LLC bought a new position in Global Partners in the 4th quarter worth about $85,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.