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

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

Wall Street Analysts Forecast Growth

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

Global Partners Stock Down 1.0 %

The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The business’s fifty day simple moving average is $51.25 and its two-hundred day simple moving average is $47.11. The company has a market cap of $1.95 billion, a PE ratio of 17.37 and a beta of 1.47.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, November 8th. The energy company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.40). The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations 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 firm posted $0.60 EPS. On average, analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The firm 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 dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio is currently 89.43%.

Hedge Funds Weigh In On Global Partners

Several institutional investors and hedge funds have recently bought and sold shares of GLP. Capital Performance Advisors LLP purchased a new position in Global Partners in the third quarter valued at $93,000. Stratos Wealth Advisors LLC purchased a new position in Global Partners in the third quarter valued at $225,000. Albert D Mason Inc. boosted its holdings in 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 during the period. Fiducient Advisors LLC purchased a new position in Global Partners in the third quarter valued at $474,000. Finally, Stifel Financial Corp boosted its holdings in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 2,166 shares during the period. 38.12% of the stock is currently owned by institutional investors and hedge funds.

About Global Partners

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.