Global Partners (NYSE:GLP) Sees Large Volume Increase

Global Partners LP (NYSE:GLPGet Rating) saw strong trading volume on Thursday . 5,225 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 101,383 shares.The stock last traded at $21.25 and had previously closed at $23.10.

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Global Partners from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, March 1st. StockNews.com raised shares of Global Partners from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Finally, TheStreet raised Global Partners from a “c+” rating to a “b” rating in a research note on Monday, May 23rd.

The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 3.49. The firm has a market capitalization of $697.68 million, a P/E ratio of 9.01 and a beta of 1.18. The firm has a 50 day moving average price of $27.34 and a 200-day moving average price of $26.12.

Global Partners (NYSE:GLPGet Rating) last issued its quarterly earnings results on Friday, May 6th. The energy company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.87. Global Partners had a return on equity of 24.43% and a net margin of 0.63%. The company had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Research analysts anticipate that Global Partners LP will post 3.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Monday, May 9th were given a dividend of $0.595 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.59. The ex-dividend date was Friday, May 6th. This represents a $2.38 annualized dividend and a dividend yield of 11.60%. Global Partners’s payout ratio is presently 103.93%.

In other Global Partners news, insider Global Gp Llc purchased 6,940 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were bought at an average cost of $28.08 per share, for a total transaction of $194,875.20. Following the completion of the purchase, the insider now directly owns 49,276 shares of the company’s stock, valued at $1,383,670.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. Raymond James Trust N.A. boosted its holdings in Global Partners by 4.2% during the first quarter. Raymond James Trust N.A. now owns 13,515 shares of the energy company’s stock worth $369,000 after buying an additional 546 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Global Partners by 2.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 22,573 shares of the energy company’s stock valued at $530,000 after acquiring an additional 564 shares during the last quarter. UBS Group AG boosted its holdings in Global Partners by 5.9% in the first quarter. UBS Group AG now owns 16,451 shares of the energy company’s stock valued at $448,000 after acquiring an additional 922 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Global Partners by 8.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,721 shares of the energy company’s stock worth $322,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Tortoise Index Solutions LLC lifted its stake in shares of Global Partners by 5.8% during the fourth quarter. Tortoise Index Solutions LLC now owns 21,701 shares of the energy company’s stock worth $510,000 after purchasing an additional 1,191 shares in the last quarter.

About Global Partners (NYSE:GLP)

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 in the New England states, Mid-Atlantic region, and New York.

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