Global Partners (NYSE:GLP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Global Partners LP (NYSE:GLP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.03 and traded as high as $49.92. Global Partners shares last traded at $48.51, with a volume of 62,344 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research raised Global Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded Global Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Stifel Nicolaus lifted their price objective on Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a report on Monday, March 2nd. Finally, Weiss Ratings raised Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Global Partners Price Performance

The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12. The company’s 50 day moving average price is $47.35 and its 200 day moving average price is $46.03. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 13.48 and a beta of 1.01.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, beating the consensus estimate of $0.33 by $1.52. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $6.98 billion. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. On average, equities research analysts predict that Global Partners LP will post 4.71 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were issued a $0.765 dividend. This represents a $3.06 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is presently 85.00%.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $47.39, for a total value of $355,425.00. Following the transaction, the chief operating officer directly owned 151,609 shares of the company’s stock, valued at $7,184,750.51. The trade was a 4.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 21,311 shares of company stock valued at $1,014,249. 41.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its position in 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 buying an additional 277,875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Global Partners by 4.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after buying an additional 85,347 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after buying an additional 67,337 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Global Partners by 13.1% during the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock worth $18,421,000 after buying an additional 50,890 shares in the last quarter. Finally, UBS Group AG lifted its position in Global Partners by 26.6% during the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock worth $11,281,000 after buying an additional 49,319 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.