Global Partners (NYSE:GLP) Shares Up 2.7%

Global Partners LP (NYSE:GLP) traded up 2.7% on Thursday . The stock traded as high as $41.89 and last traded at $41.56. 28,578 shares were traded during mid-day trading, a decline of 76% from the average session volume of 118,333 shares. The stock had previously closed at $40.46.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Global Partners Trading Up 2.0 %

The firm has a market cap of $1.37 billion, a PE ratio of 15.07 and a beta of 1.38. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The stock’s fifty day simple moving average is $45.44 and its 200-day simple moving average is $45.64.

Global Partners (NYSE:GLP) last issued its earnings results on Wednesday, May 8th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.47). The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Global Partners had a return on equity of 18.45% and a net margin of 0.71%. On average, sell-side analysts forecast that Global Partners LP will post 3.11 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were issued a dividend of $0.71 per share. This is an increase from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.88%. Global Partners’s payout ratio is 105.58%.

Insider Buying and Selling

In other Global Partners news, insider Global Gp Llc purchased 10,000 shares of Global Partners stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $42.66 per share, with a total value of $426,600.00. Following the transaction, the insider now owns 27,981 shares of the company’s stock, valued at approximately $1,193,669.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have acquired 110,000 shares of company stock worth $4,979,700. 41.50% of the stock is owned by company insiders.

Institutional Trading of Global Partners

Several hedge funds and other institutional investors have recently bought and sold shares of GLP. Albert D Mason Inc. boosted its holdings in Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after buying an additional 300 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Global Partners by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock valued at $5,038,000 after acquiring an additional 319 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Global Partners by 3.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock valued at $458,000 after purchasing an additional 325 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Global Partners by 0.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after purchasing an additional 342 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Global Partners by 5.3% in the fourth quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock valued at $673,000 after purchasing an additional 807 shares during the period. 38.12% of the stock is owned by institutional investors and hedge funds.

About Global Partners

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.