Global Partners (NYSE:GLP) Hits New 12-Month High – Still a Buy?

Global Partners LP (NYSE:GLP) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $59.03 and last traded at $57.17, with a volume of 18430 shares. The stock had previously closed at $58.01.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their target price on Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Global Partners Trading Down 1.0 %

The business has a 50 day moving average price of $51.25 and a 200-day moving average price of $47.11. The firm has a market capitalization of $1.95 billion, a PE ratio of 17.37 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Friday, November 8th. The energy company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.40). The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $5.88 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. During the same period in the previous year, the company posted $0.60 earnings per share. Analysts expect that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.74 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Monday, February 10th. Global Partners’s dividend payout ratio (DPR) is currently 89.43%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GLP. JPMorgan Chase & Co. grew its position in shares of Global Partners by 9,171.6% during the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after buying an additional 69,704 shares in the last quarter. Infrastructure Capital Advisors LLC grew its position in shares of 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 buying an additional 51,630 shares in the last quarter. Stifel Financial Corp grew its position in shares of Global Partners by 7.3% during the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after buying an additional 2,166 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Global Partners by 2.2% during the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after buying an additional 725 shares in the last quarter. Finally, Albert D Mason Inc. grew its position in shares of Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock worth $253,000 after buying an additional 575 shares in the last quarter. Hedge funds and other institutional investors 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.