Ancora Advisors LLC purchased a new position in Global Partners LP (NYSE:GLP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,500 shares of the energy company's stock, valued at approximately $156,000. Ancora Advisors LLC owned 0.06% of Global Partners at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of GLP. McMillan Office Inc. bought a new stake in shares of Global Partners in the fourth quarter valued at $29,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Global Partners during the 4th quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in Global Partners in the 4th quarter worth about $41,000. PNC Financial Services Group Inc. purchased a new stake in Global Partners in the 3rd quarter worth about $48,000. Finally, Global Retirement Partners LLC bought a new stake in Global Partners in the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 38.12% of the company's stock.
Wall Street Analyst Weigh In
GLP has been the topic of several recent research reports. Wall Street Zen raised shares of Global Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Zacks Research downgraded shares of Global Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Global Partners in a research report on Friday, August 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $46.00.
View Our Latest Research Report on GLP
Global Partners Trading Up 0.3%
Shares of GLP opened at $50.56 on Friday. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $53.25. The stock has a market cap of $1.72 billion, a PE ratio of 10.30 and a beta of 1.01. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44. The business's 50-day moving average price is $48.68 and its 200-day moving average price is $47.77.
Global Partners (NYSE:GLP - Get Free Report) last posted its earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.62. The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $7.51 billion. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. On average, equities analysts forecast that Global Partners LP will post 5.87 EPS for the current fiscal year.
Global Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a dividend of $0.78 per share. This is a positive change from Global Partners's previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, August 10th. Global Partners's dividend payout ratio is 63.54%.
About Global Partners
(
Free Report)
Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.
Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.
Further Reading
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