Global Partners (NYSE:GLP) Shares Gap Up – Still a Buy?

Global Partners LP (NYSE:GLP)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $46.98, but opened at $48.75. Global Partners shares last traded at $47.2810, with a volume of 6,358 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GLP shares. Zacks Research upgraded shares of Global Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen cut Global Partners from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Stifel Nicolaus upped their target price on Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.00.

Global Partners Trading Down 2.0%

The company has a fifty day simple moving average of $45.64 and a two-hundred day simple moving average of $46.25. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.70. The company has a market capitalization of $1.63 billion, a P/E ratio of 22.79 and a beta of 1.00.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.06). The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $6.94 billion. Global Partners had a return on equity of 15.99% and a net margin of 0.53%. On average, analysts forecast that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a yield of 6.3%. Global Partners’s dividend payout ratio (DPR) is currently 144.08%.

Institutional Trading of Global Partners

A number of institutional investors and hedge funds have recently modified their holdings of GLP. McMillan Office Inc. bought a new stake in shares of Global Partners during the 4th quarter worth $29,000. Garton & Associates Financial Advisors LLC acquired a new position in Global Partners during the 4th quarter worth $29,000. International Assets Investment Management LLC bought a new stake in Global Partners during the fourth quarter valued at about $41,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners in the third quarter valued at about $48,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of Global Partners in the fourth quarter valued at about $85,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Global Partners Company Profile

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.