Global Partners LP (NYSE:GLP) Shares Sold by Blackstone Inc.

Blackstone Inc. reduced its position in Global Partners LP (NYSE:GLP - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 152,104 shares of the energy company's stock after selling 6,805 shares during the period. Blackstone Inc. owned about 0.45% of Global Partners worth $7,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. US Bancorp DE boosted its position in Global Partners by 54.1% in the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after purchasing an additional 500 shares during the last quarter. Albert D Mason Inc. boosted 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 acquiring an additional 575 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Global Partners during the 4th quarter worth approximately $288,000. XTX Topco Ltd bought a new position in shares of Global Partners in the 4th quarter valued at about $302,000. Finally, SVB Wealth LLC purchased a new stake in shares of Global Partners in the fourth quarter valued at $330,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Global Partners

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now owns 156,198 shares of the company's stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.50% of the stock is owned by corporate insiders.

Global Partners Stock Up 0.1 %

GLP traded up $0.03 during trading on Friday, hitting $48.08. The stock had a trading volume of 91,712 shares, compared to its average volume of 76,477. The company has a market capitalization of $1.63 billion, a PE ratio of 14.53 and a beta of 1.02. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a 50 day simple moving average of $51.68 and a two-hundred day simple moving average of $51.94. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00.

Global Partners (NYSE:GLP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.39. Global Partners had a return on equity of 22.07% and a net margin of 0.82%. The firm had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. On average, research 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 Thursday, May 15th. Investors of record on Friday, May 9th will be given a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 6.20%. This is an increase from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date is Friday, May 9th. Global Partners's dividend payout ratio (DPR) is presently 94.60%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered shares of Global Partners from a "buy" rating to a "hold" rating and raised their target price for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.

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.