Global Partners (NYSE:GLP) Shares Break Above 200 Day Moving Average – Should You Sell?

Shares of Global Partners LP (NYSE:GLP) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $48.20 and traded as high as $50.64. Global Partners shares last traded at $49.4370, with a volume of 48,616 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Global Partners in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Global Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Zacks Research downgraded shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.00.

Global Partners Stock Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of 9.74 and a beta of 1.06. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 2.44. The company has a 50-day moving average price of $50.26 and a two-hundred day moving average price of $48.20.

Global Partners (NYSE:GLP) last released its earnings results on Friday, August 7th. The energy company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.24 by $0.62. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $7.51 billion. Global Partners had a return on equity of 30.87% and a net margin of 0.91%. On average, equities analysts forecast that Global Partners LP will post 5.87 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were given a dividend of $0.78 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.7650. The ex-dividend date of this dividend was Monday, August 10th. This represents a $3.12 annualized dividend and a dividend yield of 6.5%. Global Partners’s payout ratio is 63.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Global Partners during the second quarter worth $4,789,000. Heartland Advisors Inc. acquired a new position in shares of Global Partners during the second quarter valued at about $2,952,000. Alps Advisors Inc. boosted its position in shares of Global Partners by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after purchasing an additional 277,875 shares in the last quarter. Bard Associates Inc. bought a new position in shares of Global Partners during the 2nd quarter worth about $936,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Global Partners in the 2nd quarter valued at about $379,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP (NYSE: GLP) is an energy supply, logistics and retail company headquartered in Waltham, Massachusetts. The company purchases, stores, transports and sells petroleum and related products, including gasoline, diesel fuel, heating oil, crude oil, renewable fuels and other refined products.

Global Partners operates a network of terminals and transportation assets that supports the wholesale distribution of energy products to wholesalers, commercial and industrial customers, distributors and other businesses.