Global Partners (NYSE:GLP) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Global Partners LP (NYSE:GLP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.75 and traded as high as $49.18. Global Partners shares last traded at $47.80, with a volume of 87,715 shares changing hands.

Wall Street Analysts Forecast Growth

GLP has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Wall Street Zen cut Global Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Stifel Nicolaus raised their target price on Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. Finally, Zacks Research raised Global Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $46.00.

Global Partners Stock Performance

The stock has a fifty day simple moving average of $46.97 and a 200-day simple moving average of $45.75. The stock has a market cap of $1.63 billion, a P/E ratio of 13.28 and a beta of 1.02. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12.

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

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were given a $0.765 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.06 dividend on an annualized basis and a yield of 6.4%. This is a boost from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s payout ratio is 85.00%.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 2,020 shares of Global Partners stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $48.19, for a total value of $97,343.80. Following the sale, the chief operating officer owned 141,609 shares of the company’s stock, valued at approximately $6,824,137.71. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 24,063 shares of company stock valued at $1,146,471. 41.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. McMillan Office Inc. acquired a new position in Global Partners during the fourth quarter worth $29,000. Garton & Associates Financial Advisors LLC bought a new position in Global Partners in the fourth quarter valued at $29,000. International Assets Investment Management LLC bought a new position in Global Partners in the fourth quarter valued at $41,000. PNC Financial Services Group Inc. bought a new position in Global Partners in the third quarter valued at $48,000. Finally, Smartleaf Asset Management LLC bought a new position in Global Partners in the fourth quarter valued at $85,000. 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.