Global Partners LP (NYSE:GLP) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of Global Partners LP (NYSE:GLP - Free Report) by 62.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,332 shares of the energy company's stock after selling 47,930 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Global Partners worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Global Partners by 54.1% in the fourth 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 period. Virtu Financial LLC acquired a new position in Global Partners during the 4th quarter worth about $288,000. XTX Topco Ltd acquired a new position in Global Partners during the 4th quarter worth about $302,000. SVB Wealth LLC bought a new stake in Global Partners during the 4th quarter worth about $330,000. Finally, BBR Partners LLC bought a new stake in Global Partners during the 4th quarter worth about $337,000. Institutional investors own 38.12% of the company's stock.

Insiders Place Their Bets

In related news, COO Mark Romaine sold 2,195 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the completion of the sale, the chief operating officer now owns 156,198 shares in the company, valued at $8,444,063.88. The trade was a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 41.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut Global Partners from a "buy" rating to a "hold" rating and increased their target price for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Global Partners Stock Performance

Shares of GLP traded up $0.84 during midday trading on Friday, reaching $50.09. 43,378 shares of the stock were exchanged, compared to its average volume of 74,563. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The stock's 50 day simple moving average is $50.63 and its 200 day simple moving average is $52.11. The company has a market cap of $1.70 billion, a P/E ratio of 15.13 and a beta of 1.02.

Global Partners (NYSE:GLP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.39. Global Partners had a return on equity of 22.07% and a net margin of 0.82%. The business had revenue of $4.59 billion for the quarter, compared to analysts' expectations of $5.64 billion. On average, sell-side analysts expect that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were issued a $0.745 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.98 annualized dividend and a yield of 5.95%. This is a positive change from Global Partners's previous quarterly dividend of $0.74. Global Partners's dividend payout ratio (DPR) is 94.60%.

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.