Focus Partners Wealth purchased a new position in Global Partners LP (NYSE:GLP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,113 shares of the energy company's stock, valued at approximately $1,029,000. Focus Partners Wealth owned approximately 0.07% of Global Partners as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE raised its position in shares of Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock valued at $66,000 after buying an additional 500 shares in the last quarter. Albert D Mason Inc. raised its position in shares of Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after buying an additional 575 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Global Partners during the 4th quarter valued at about $288,000. XTX Topco Ltd purchased a new stake in shares of Global Partners during the 4th quarter valued at about $302,000. Finally, SVB Wealth LLC purchased a new stake in shares of Global Partners during the 4th quarter valued at about $330,000. Hedge funds and other institutional investors own 38.12% of the company's stock.
Global Partners Price Performance
Shares of NYSE GLP traded up $0.84 during mid-day trading on Friday, hitting $50.09. 43,378 shares of the company's stock traded hands, compared to its average volume of 74,495. The company's 50-day moving average is $50.63 and its two-hundred day moving average is $52.06. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The company has a market capitalization of $1.70 billion, a P/E ratio of 15.13 and a beta of 1.02. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00.
Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly 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. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. On average, equities analysts anticipate that Global Partners LP will post 2.13 EPS for the current fiscal year.
Global Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 5.95%. This is an increase from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date was Friday, May 9th. Global Partners's dividend payout ratio is presently 94.60%.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus cut shares of Global Partners from a "buy" rating to a "hold" rating and upped their target price for the company from $54.00 to $56.00 in a research report on Tuesday, March 4th.
Read Our Latest Stock Analysis on GLP
Insider Activity at Global Partners
In related news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now directly owns 156,198 shares in the company, valued at approximately $8,444,063.88. This represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 41.50% of the stock is currently owned by insiders.
About Global Partners
(
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.
Featured Articles
Before you consider Global Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Partners wasn't on the list.
While Global Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
