Alps Advisors Inc. Acquires 635,126 Shares of Global Partners LP (NYSE:GLP)

Alps Advisors Inc. increased its position in shares of Global Partners LP (NYSE:GLP - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,584,745 shares of the energy company's stock after buying an additional 635,126 shares during the quarter. Global Partners comprises about 1.7% of Alps Advisors Inc.'s portfolio, making the stock its 11th biggest position. Alps Advisors Inc. owned approximately 16.43% of Global Partners worth $298,114,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its stake in Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after buying an additional 500 shares during the period. Silverberg Bernstein Capital Management LLC bought a new stake in Global Partners during the 1st quarter worth approximately $222,000. Virtu Financial LLC bought a new stake in Global Partners during the 4th quarter worth approximately $288,000. XTX Topco Ltd bought a new stake in Global Partners during the 4th quarter worth approximately $302,000. Finally, Marcum Wealth LLC bought a new stake in Global Partners during the 1st quarter worth approximately $356,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Global Partners Stock Down 1.0%

GLP traded down $0.50 during midday trading on Friday, reaching $52.01. 16,270 shares of the company were exchanged, compared to its average volume of 71,341. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.68 and a current ratio of 1.17. The company's fifty day moving average price is $52.05 and its 200 day moving average price is $52.39. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 16.51 and a beta of 1.03. Global Partners LP has a one year low of $37.00 and a one year high of $60.00.

Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.39. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a return on equity of 21.10% and a net margin of 0.76%. As a group, analysts expect that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 9th were issued a dividend of $0.745 per share. This is a positive change from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date was Friday, May 9th. Global Partners's payout ratio is currently 94.60%.

Insider Buying and Selling

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 stock was sold at an average price of $51.53, for a total value of $120,631.73. Following the completion of the transaction, the chief operating officer directly owned 157,531 shares of the company's stock, valued at $8,117,572.43. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 41.50% of the company's stock.

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.