Global Partners (NYSE:GLP) Reaches New 52-Week High – Time to Buy?

Shares of Global Partners LP (NYSE:GLP) reached a new 52-week high on Monday . The company traded as high as $59.66 and last traded at $59.66, with a volume of 211 shares trading hands. The stock had previously closed at $56.53.

Wall Street Analyst Weigh In

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

Global Partners Price Performance

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 company has a market capitalization of $1.83 billion, a P/E ratio of 16.25 and a beta of 1.43. The company has a 50 day moving average price of $49.78 and a 200 day moving average price of $45.86.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 5.43%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s dividend payout ratio is 88.22%.

Insider Buying and Selling at Global Partners

In related news, insider Global Gp Llc acquired 5,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $43.07 per share, with a total value of $215,350.00. Following the completion of the transaction, the insider now directly owns 258,981 shares of the company’s stock, valued at $11,154,311.67. This trade represents a 1.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 17,226 shares of company stock worth $749,174 over the last ninety days. Insiders own 41.50% of the company’s stock.

Hedge Funds Weigh In On Global Partners

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of Global Partners in the second quarter valued at about $41,000. Capital Performance Advisors LLP bought a new position in shares of Global Partners in the third quarter valued at about $93,000. Spinnaker Trust bought a new position in shares of Global Partners in the second quarter valued at about $203,000. Stratos Wealth Advisors LLC bought a new position in shares of Global Partners in the third quarter valued at about $225,000. Finally, Fiducient Advisors LLC bought a new position in shares of Global Partners in the third quarter valued at about $474,000. 38.12% of the stock is owned by institutional investors.

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.