Global Partners (NYSE:GLP) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Global Partners LP (NYSE:GLP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $46.24 and traded as high as $47.45. Global Partners shares last traded at $47.3690, with a volume of 93,440 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GLP shares. Weiss Ratings upgraded Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Global Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Zacks Research upgraded Global Partners from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $46.00.

Global Partners Price Performance

The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12. The firm has a fifty day simple moving average of $47.57 and a 200 day simple moving average of $46.27. The company has a market capitalization of $1.61 billion, a PE ratio of 13.17 and a beta of 1.02.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.52. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $6.98 billion. Global Partners had a return on equity of 24.23% and a net margin of 0.77%. Equities analysts anticipate that Global Partners LP will post 4.71 EPS for the current year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were issued a dividend of $0.765 per share. This represents a $3.06 annualized dividend and a yield of 6.5%. The ex-dividend date was Monday, May 11th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is currently 85.00%.

Institutional Investors Weigh In On Global Partners

Large investors have recently modified their holdings of the business. Wealth Effects LLC raised its stake in shares of Global Partners by 3.3% in the first quarter. Wealth Effects LLC now owns 9,300 shares of the energy company’s stock worth $392,000 after purchasing an additional 300 shares during the last quarter. First Trust Advisors LP boosted its position in Global Partners by 0.8% in the first quarter. First Trust Advisors LP now owns 55,496 shares of the energy company’s stock valued at $2,336,000 after buying an additional 463 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its holdings in Global Partners by 14.6% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 4,898 shares of the energy company’s stock worth $205,000 after buying an additional 625 shares during the period. McMillan Office Inc. purchased a new position in Global Partners during the 4th quarter worth approximately $29,000. Finally, Spinnaker Trust raised its holdings in shares of Global Partners by 6.1% during the first quarter. Spinnaker Trust now owns 12,146 shares of the energy company’s stock worth $511,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 38.12% of the company’s stock.

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.