Global Partners LP (NYSE:GLP – Get Free Report) shares gapped down prior to trading on Tuesday. The stock had previously closed at $45.01, but opened at $42.17. Global Partners shares last traded at $42.2320, with a volume of 5,221 shares changing hands.
Wall Street Analyst Weigh In
Several analysts recently weighed in on GLP shares. Wall Street Zen cut shares of Global Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Global Partners has a consensus rating of “Hold” and a consensus target price of $46.00.
View Our Latest Stock Report on Global Partners
Global Partners Price Performance
The firm has a market cap of $1.43 billion, a P/E ratio of 7.62 and a beta of 1.10. The company has a fifty day moving average of $48.69 and a 200-day moving average of $47.95. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.19 and a quick ratio of 0.71.
Global Partners (NYSE:GLP – Get Free Report) last issued its quarterly earnings data on Friday, November 6th. The energy company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.35). The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $7.41 billion. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. On average, sell-side analysts anticipate that Global Partners LP will post 6.02 EPS for the current fiscal year.
Global Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 9th will be issued a $0.7850 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.78. This represents a $3.14 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, November 9th. Global Partners’s dividend payout ratio is currently 56.62%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Global Partners during the second quarter worth $4,789,000. Heartland Advisors Inc. purchased a new position in Global Partners in the second quarter worth $2,952,000. Alps Advisors Inc. grew its stake in Global Partners by 3.4% in the 3rd quarter. Alps Advisors Inc. now owns 6,045,690 shares of the energy company’s stock valued at $279,915,000 after purchasing an additional 201,591 shares during the period. Bard Associates Inc. bought a new position in Global Partners in the 2nd quarter valued at $936,000. Finally, GSA Capital Partners LLP bought a new position in Global Partners in the 2nd quarter valued at $379,000. 38.12% of the stock is owned by institutional investors.
About Global Partners
Global Partners LP is an energy company that purchases, stores, transports and markets petroleum products and renewable fuels. Its products include gasoline, diesel and other distillates, residual fuel oil, and biofuels.
The company operates an integrated network of fuel terminals, storage facilities and transportation assets, including pipelines and marine and truck transport capabilities. It also owns and operates gas stations and convenience stores, primarily in the northeastern United States.
Global Partners traces its roots to a fuel business established in 1933 and is headquartered in Waltham, Massachusetts.
Featured Stories
- Five stocks we like better than Global Partners
- DraftKings Just Lost 20%—And Its Biggest Gamble Is Still Ahead
- Barrick’s Earnings Beat Could Be Overshadowed by an Even Bigger Opportunity
- Axon vs. Motorola: Which Public Safety Stock Has More Upside After Q3 Earnings?
- Wall Street May Be Making a Big Mistake With monday.com Stock
Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter.
