Global Partners (NYSE:GLP) Hits New 52-Week High – Still a Buy?

Global Partners LP (NYSE:GLP)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.95 and last traded at $50.46, with a volume of 30071 shares. The stock had previously closed at $49.52.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price objective on shares of Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

Global Partners Trading Up 4.2 %

The firm has a market cap of $1.75 billion, a P/E ratio of 14.96 and a beta of 1.38. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.62 and a current ratio of 1.14. The firm has a fifty day moving average of $46.40 and a 200-day moving average of $44.74.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 5.66%. This is a boost from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s dividend payout ratio (DPR) is presently 88.22%.

Insider Activity

In other news, insider Global Gp Llc acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $42.67 per share, for a total transaction of $213,350.00. Following the transaction, the insider now directly owns 201,681 shares in the company, valued at $8,605,728.27. This trade represents a 2.54 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders bought 39,526 shares of company stock valued at $1,719,840. 41.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Partners

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of Global Partners during the second quarter worth approximately $41,000. Capital Performance Advisors LLP bought a new stake in Global Partners during the 3rd quarter valued at $93,000. Spinnaker Trust bought a new stake in Global Partners during the 2nd quarter valued at $203,000. Stratos Wealth Advisors LLC acquired a new position in Global Partners during the 3rd quarter worth $225,000. Finally, Albert D Mason Inc. grew its stake in shares of Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after purchasing an additional 300 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 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.