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

Global Partners LP (NYSE:GLP)’s stock price 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 traded.

Analyst Ratings Changes

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

Global Partners Trading Down 0.7%

The business’s 50-day simple moving average is $47.35 and its 200-day simple moving average is $46.03. 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 has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.48 and a beta of 1.01.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 24.23% and a net margin of 0.77%. On average, research analysts expect that Global Partners LP will post 4.71 earnings per share for the current fiscal year.

Global Partners Increases Dividend

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

Insider Buying and Selling at Global Partners

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

Institutional Trading of Global Partners

A number of hedge funds have recently modified their holdings of the company. Infrastructure Capital Advisors LLC raised its position in shares of Global Partners by 2.3% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 110,208 shares of the energy company’s stock valued at $4,640,000 after acquiring an additional 2,527 shares during the period. Cetera Investment Advisers raised its position in shares of Global Partners by 2.5% in the 1st quarter. Cetera Investment Advisers now owns 54,743 shares of the energy company’s stock valued at $2,305,000 after acquiring an additional 1,337 shares during the period. First Trust Advisors LP raised its position in shares of Global Partners by 0.8% in the 1st quarter. First Trust Advisors LP now owns 55,496 shares of the energy company’s stock valued at $2,336,000 after acquiring an additional 463 shares during the period. Kestra Advisory Services LLC raised its stake in Global Partners by 46.9% during the 1st quarter. Kestra Advisory Services LLC now owns 8,147 shares of the energy company’s stock worth $343,000 after buying an additional 2,602 shares during the period. Finally, Spinnaker Trust raised its stake in Global Partners by 6.1% during the 1st quarter. Spinnaker Trust now owns 12,146 shares of the energy company’s stock worth $511,000 after buying an additional 700 shares during the period. 38.12% of the stock is currently owned by institutional investors and hedge funds.

About Global Partners

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.