Global Partners (NYSE:GLP) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Shares of Global Partners LP (NYSE:GLP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $46.01 and traded as high as $48.35. Global Partners shares last traded at $46.91, with a volume of 168,013 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their price target on shares of Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Global Partners Trading Up 0.8 %

The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 14.17 and a beta of 1.43. The firm’s fifty day moving average is $50.44 and its 200-day moving average is $46.01.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.22%. This is an increase from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date was Friday, November 8th. Global Partners’s payout ratio is currently 88.22%.

Institutional Investors Weigh In On Global Partners

Several large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Global Partners during the 2nd quarter worth approximately $41,000. Capital Performance Advisors LLP acquired a new position in shares of Global Partners during the 3rd quarter valued at $93,000. Stratos Wealth Advisors LLC bought a new position in Global Partners during the third quarter worth $225,000. Fiducient Advisors LLC acquired a new stake in Global Partners in the third quarter worth $474,000. Finally, Stifel Financial Corp increased its stake in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 2,166 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

About Global Partners

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.