Global Partners (NYSE:GLP) Stock Passes Above 200 Day Moving Average of $27.38

Global Partners LP (NYSE:GLPGet Rating)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.38 and traded as high as $32.78. Global Partners shares last traded at $31.91, with a volume of 221,104 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Global Partners from a “hold” rating to a “buy” rating in a report on Monday, November 7th. StockNews.com initiated coverage on shares of Global Partners in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company.

Global Partners Trading Up 0.7 %

The business’s fifty day moving average is $28.90 and its 200-day moving average is $27.38. The stock has a market capitalization of $1.08 billion, a PE ratio of 3.57 and a beta of 1.39. The company has a quick ratio of 0.69, a current ratio of 1.21 and a debt-to-equity ratio of 1.71.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 8th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 7.83%. This is an increase from Global Partners’s previous quarterly dividend of $0.61. The ex-dividend date was Monday, November 7th. Global Partners’s payout ratio is presently 28.00%.

Insider Activity at Global Partners

In related news, Director Jaime Pereira bought 1,000 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was purchased at an average cost of $28.45 per share, for a total transaction of $28,450.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $56,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Partners

Several institutional investors have recently bought and sold shares of the business. Pallas Capital Advisors LLC grew its stake in Global Partners by 2.7% during the third quarter. Pallas Capital Advisors LLC now owns 1,382,449 shares of the energy company’s stock worth $46,312,000 after buying an additional 36,458 shares during the period. Goldman Sachs Group Inc. grew its stake in Global Partners by 42.2% during the second quarter. Goldman Sachs Group Inc. now owns 193,521 shares of the energy company’s stock worth $4,548,000 after buying an additional 57,422 shares during the period. Bank of America Corp DE grew its stake in Global Partners by 20.6% during the first quarter. Bank of America Corp DE now owns 90,092 shares of the energy company’s stock worth $2,457,000 after buying an additional 15,360 shares during the period. ING Groep NV boosted its stake in shares of Global Partners by 104.3% in the third quarter. ING Groep NV now owns 85,800 shares of the energy company’s stock valued at $2,124,000 after purchasing an additional 43,800 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Global Partners by 334.0% in the second quarter. BNP Paribas Arbitrage SA now owns 76,081 shares of the energy company’s stock valued at $1,788,000 after purchasing an additional 58,550 shares during the period.

About Global Partners

(Get Rating)

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.

Further Reading

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