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

Global Partners LP (NYSE:GLP)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $46.07 and traded as high as $47.75. Global Partners shares last traded at $46.70, with a volume of 34,963 shares.

Wall Street Analyst Weigh In

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

Global Partners Stock Performance

The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm’s fifty day moving average price is $50.44 and its 200 day moving average price is $46.07. The firm has a market capitalization of $1.59 billion, a PE ratio of 14.11 and a beta of 1.47.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 6.25%. This is a boost from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s payout ratio is currently 88.22%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in Global Partners in the 3rd quarter worth $93,000. Stratos Wealth Advisors LLC acquired a new stake in Global Partners during the third quarter worth about $225,000. Fiducient Advisors LLC bought a new position in Global Partners during the third quarter valued at about $474,000. Stifel Financial Corp raised its holdings in Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Global Partners by 2.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after acquiring an additional 725 shares during the period. 38.12% of the stock is owned by institutional investors.

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.