GLP Stock Summary and Trading Ideas (Global Partners LP Common Units Representing Limited Partner Interests | NYSE:GLP)

Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company. It is mainly engaged in purchasing, selling, storing and logistics of transporting petroleum and related products. The company owns and operates and control terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, and other places. It distributes gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane to wholesalers, retailers and commercial customers. The company operates through three segments i.e. Wholesale, Gasoline Distribution and Station Operations and Commercial. It generates maximum revenue from the Wholesale segment.

Global Partners LP Common Units Representing Limited Partner Interests trades on the NYSE stock market under the symbol GLP.

As of April 24, 2024, GLP stock price declined to $46.68 with 69,065 million shares trading.

GLP has a beta of 0.85, meaning it tends to be less sensitive to market movements. GLP has a correlation of 0.13 to the broad based SPY ETF.

GLP has a market cap of $1.59 billion. This is considered a Small Cap stock.

Last quarter Global Partners LP Common Units Representing Limited Partner Interests reported $4 billion in Revenue and $1.41 earnings per share. This beat revenue expectation by $19 million and exceeded earnings estimates by $.45.

In the last 3 years, GLP stock traded as high as $49.50 and as low as $19.45.

The top ETF exchange traded funds that GLP belongs to (by Net Assets): AMLP, MLPA, DIV, AMZA, TPYP.

GLP has outperformed the market in the last year with a price return of +63.9% while the SPY ETF gained +24.2%. GLP has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +6.2% and +4.4%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

GLP support price is $45.91 and resistance is $47.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GLP stock will trade within this expected range on the day.