Cerity Partners LLC Takes $528,000 Position in Global Partners LP (NYSE:GLP)

Cerity Partners LLC bought a new stake in Global Partners LP (NYSE:GLP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,339 shares of the energy company's stock, valued at approximately $528,000.

A number of other hedge funds also recently made changes to their positions in GLP. US Bancorp DE increased its holdings in shares of Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after buying an additional 500 shares in the last quarter. Albert D Mason Inc. lifted its stake in shares of Global Partners by 11.8% in the 4th 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. Virtu Financial LLC acquired a new position in Global Partners in the fourth quarter valued at approximately $288,000. SVB Wealth LLC bought a new position in Global Partners during the fourth quarter worth $330,000. Finally, BBR Partners LLC acquired a new stake in shares of Global Partners in the 4th quarter valued at about $337,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Global Partners

In other news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.06, for a total value 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 represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 41.50% of the company's stock.

Global Partners Stock Performance

GLP stock traded down $1.05 during mid-day trading on Friday, hitting $51.58. The company had a trading volume of 17,040 shares, compared to its average volume of 78,292. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. 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's fifty day moving average price is $53.14 and its two-hundred day moving average price is $51.65. The firm has a market cap of $1.75 billion, a PE ratio of 15.58 and a beta of 1.16.

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 paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.78%. This is a positive change from Global Partners's previous quarterly dividend of $0.74. Global Partners's payout ratio is currently 122.31%.

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.