Global Partners (NYSE:GLP) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Global Partners LP (NYSE:GLP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $46.01 and traded as high as $48.35. Global Partners shares last traded at $46.91, with a volume of 168,013 shares.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus increased their target price 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 Stock Up 0.7 %

The firm has a market capitalization of $1.61 billion, a PE ratio of 14.27 and a beta of 1.43. The business has a 50-day moving average price of $50.45 and a 200-day moving average price of $46.01. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 6.18%. Global Partners’s payout ratio is 88.22%.

Institutional Trading of Global Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in GLP. Infrastructure Capital Advisors LLC increased its stake in Global Partners by 57.7% during the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after acquiring an additional 51,630 shares during the last quarter. Stifel Financial Corp increased its position in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after purchasing an additional 2,166 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Global Partners in the 2nd quarter valued at about $41,000. Exchange Traded Concepts LLC lifted its position in Global Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after buying an additional 725 shares during the last quarter. Finally, Fiducient Advisors LLC purchased a new position in Global Partners during the third quarter worth about $474,000. 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.