Alps Advisors Inc. grew its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,584,745 shares of the energy company's stock after buying an additional 635,126 shares during the period. Global Partners accounts for 1.7% of Alps Advisors Inc.'s investment portfolio, making the stock its 11th biggest position. Alps Advisors Inc. owned approximately 16.43% of Global Partners worth $298,114,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Global Partners by 54.1% in the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock valued at $66,000 after purchasing an additional 500 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Global Partners during the 4th quarter worth approximately $6,510,000. Virtu Financial LLC bought a new stake in shares of Global Partners in the fourth quarter worth $288,000. JPMorgan Chase & Co. increased its position in shares of Global Partners by 53.8% in the 4th quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock worth $5,044,000 after purchasing an additional 37,893 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Global Partners during the fourth quarter valued at approximately $528,000. 38.12% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, COO Mark Romaine sold 2,341 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $51.53, for a total value of $120,631.73. Following the completion of the sale, the chief operating officer directly owned 157,531 shares of the company's stock, valued at approximately $8,117,572.43. This represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 41.50% of the stock is owned by insiders.
Global Partners Stock Performance
Global Partners stock traded down $0.50 during mid-day trading on Friday, reaching $52.01. The company's stock had a trading volume of 16,270 shares, compared to its average volume of 71,341. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The business has a 50 day moving average price of $52.05 and a 200-day moving average price of $52.44. The company has a current ratio of 1.17, a quick ratio of 0.68 and a debt-to-equity ratio of 2.69. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 16.51 and a beta of 1.03.
Global Partners (NYSE:GLP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.39. The company had revenue of $4.59 billion for the quarter, compared to analysts' expectations of $5.64 billion. Global Partners had a return on equity of 21.10% and a net margin of 0.76%. Sell-side analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.
Global Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 9th were paid a dividend of $0.745 per share. The ex-dividend date was Friday, May 9th. This represents a $2.98 annualized dividend and a yield of 5.73%. This is an increase from Global Partners's previous quarterly dividend of $0.74. Global Partners's payout ratio is presently 94.60%.
Global Partners Company Profile
(
Free Report)
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.
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