Global Partners (NYSE:GLP) Reaches New 1-Year High – Should You Buy?

Global Partners LP (NYSE:GLP)’s share price hit 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 traded. The stock had previously closed at $58.01.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their target price on 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 0.3 %

The stock’s 50-day moving average price is $51.37 and its two-hundred day moving average price is $47.26. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $1.99 billion, a P/E ratio of 17.64 and a beta of 1.47.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, November 8th. The energy company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.40). The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $5.88 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, research analysts expect that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 10th will be paid a $0.74 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, February 10th. Global Partners’s payout ratio is currently 88.22%.

Hedge Funds Weigh In On Global Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLP. US Bancorp DE lifted its stake in shares of Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after buying an additional 500 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Global Partners during the third quarter worth $93,000. Stratos Wealth Advisors LLC bought a new position in shares of Global Partners in the third quarter worth $225,000. Albert D Mason Inc. grew its position in shares of Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $330,000. 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.